Wednesday, January 13, 2010

Indian Internet Users Vulnerable to Cyber Fraud

A survey of more than 5,000 active Internet users across 10 cities in India suggests that users are becoming increasingly concerned about online security. Ninety one percent of the respondent Internet users experienced some case of cyber fraud, such as phishing, key logging, identity theft and account takeover. Despite the exposure to cyber fraud, a majority of respondents were unaware of ways to combat it.

The survey, commissioned by VeriSign and conducted by IMRB highlighted that 60 percent of respondents access the Internet frequently—at least four to six times a week—and 44 percent shop online with 53 percent engaging with user-generated content (e.g. social networks and blogs).

The survey further revealed that:
• 38 percent of survey respondents use the same passwords for multiple log-ins
• 11 percent look out for the authenticity of the website by looking at the security provider
• 32 percent create a secret question that only they can answer
• 83 percent do not look for secure websites (https:)

Additionally, an overwhelming 84 percent would like to use two-factor authentication (2FA) to secure their online transactions. 2FA is a verification process in which an additional dynamic password is generated at the log in stage by a device such as a credit-card form factor, token or mobile phone in addition to the user name and password.

"As we move more of our lives online, fraud threats follow closely behind,” said Dr Shekhar Kirani, Country Manager, VeriSign India. “This study clearly indicates that while users may be unaware of how to protect themselves online, their desire to be safe is high. The key is to remain one step ahead by knowing how to protect ourselves online, embracing best practices and using the latest technologies.”

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