Repeated database breaches are taking a toll on e-commerce, with 24% of Americans refusing to make online purchases because they fear their financial information will be stolen, according to a new study from the Cyber Security Industry Alliance. That represents about $3.8 billion in lost transactions, the CSIA estimates.
In a nationwide survey of 1,150 adults, CSIA also found that about 50% of Internet users are concerned about the safety of their financial information online. “We actually saw a slight decline in the number of Americans who feel secure shopping online over the past six months,” says Paul Kurtz, executive director.
The CSIA, a trade group network and security firms, has been pushing for federal data security law.
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