Online shoppers fear cyber crimes: study

NEW DELHI

APRIL 20, 2007

Seven out of 10 people worry their financial details are vulnerable to
cyber-criminals when it comes to online shopping, according to research from
SafeNet, Inc., information security solutions provider.

SafeNet surveyed 250 people in the UK, including accountants, management
consultants, and marketing and HR executives about their security fears. Four
out of five respondents admitted that lack of faith in Internet security has
stopped them from shopping online in the past, SafeNet said in a statement.

The survey revealed that Internet security fears stopped 80 percent of
consumers from shopping online and 60 percent of respondents were worried about
their details when making payments over the phone.

Majority of respondents said that they would be "more confident" if
there was an industry enforced Internet security standard, which all retailers
and financial institutions conformed to.

Deepak Prasad, VP-Global Outsourcing, SafeNet Infotech said, "As more
organizations become PCI DSS compliant, we hope to see positive changes in
customer data management as well as a drop in the number of data heists."

Major credit card firms including Visa International and MasterCard Worldwide
have joined forces to create the Payment Card Industry Data Security Standard (PCIDSS),
to help facilitate the broad adoption of consistent data security measures on a
global basis. This is a multifaceted security standard that includes
requirements for security management, policies, procedures, network
architecture, software design and other critical protective measures.