April 12, 2007, 12:00 AM

Fraud fears prevent half of consumers from shopping online with bank cards

Fears of bank card fraud and identity theft prevent more than half of consumers from shopping online if it requires providing a bank card number over a web site, according to Unisys Corp.’s Trusted Enterprise Index.

Fears of bank card fraud and identity theft prevent more than half of consumers from shopping online if it requires providing a bank card number over a web site, according to Unisys Corp.’s Trusted Enterprise Index.

16% of 1,744 consumers surveyed say they strongly agree with the statement “Worry about bank card fraud and identity theft has prevented me from on-line shopping when it requires me to provide a bank card number over a web site.” Another 38% say they strongly agree while 13 % say they are unsure. 22% say they disagree with the statement and 12% say they strongly disagree.

“Only 10% of these consumers have been actual victims of identity theft, yet their fear keeps them from spending money with certain retailers,” a spokesman says. “Retailers can expect consumer fears to continue to rise, as 63% believe credit card fraud and ID theft will become an even bigger security threat in the future.”

The TEI survey also found that 5% of consumers always evaluate a company’s privacy and data security policies before deciding to purchase goods or services from them. 40% say they “sometimes” evaluate the policies and 40% say they “rarely” do. Only 15% say they never evaluate privacy and data security policies.

In addition, 69% say they would stop buying goods or services from a company that lost their private information.

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