Close to 70 Percent of Consumers Still Fear Online Credit Fraud

February 1, 2007

Despite Retailer Efforts, Mintel Report Reveals Consumer Concerns Regarding On-Line Purchasing Consumers are escalating their purchases on the Internet, but concerns still remain regarding the safety of online purchases. According to a recent Mintel report, close to 70 percent of respondents are either “very concerned” or “somewhat concerned” that their credit or debit card information will be stolen if they purchase things on the Internet. Retail, banking and credit companies have implemented aggressive programs to combat these fears, but consumers are still skeptical about secured information.More than one third of respondents to Mintel’s exclusive survey perceive the Internet as the medium most likely to result in identity theft. This is compared to 28 percent who claim mail theft and one fifth who say credit card receipts. In contrast with these perceptions, the 2006 Identity Fraud Survey Report released by the Council of Better Business Bureaus/Javelin revealed that more than 60 percent of fraud actually occurred at the hands of friends, family neighbors and through other means than Internet purchasing.

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