The growing number of on-line transactions during the holiday season make shoppers more vulnerable to cyber crimes with enhanced risk levels including the identity theft, according to a study.
As last-minute shoppers hit the Internet in force and a new study commissioned by Norton revealed startling levels of threat of cyber crime. The study also revealed that more than half of people under the age of 35 are dangerously updating their social networking status with real-time references to their whereabouts– whether it be at a holiday party or shopping for Christmas gifts at the mall.
“People conduct multiple transactions online and many consumers are not taking even the simplest steps to protect themselves, and their finances, from the bite of cybercrime,” the study added.
The study titled “Connected but Careless”, sponsored by Norton and conducted by Javelin Strategy & Research, surveyed more than 1,000 Internet users in the US, the survey revealed that despite repeated warnings about Internet threats, consumers around the world are still somewhat cavalier and under-informed when it comes to Internet security, specifically in three areas including location-based services, mobile phone transactions and online passwords.
The study revealed that during the holiday period, nearly half of the consumer respondents (47%) said they expected their online purchases to increase, with 14 percent saying that their transaction level would double or more than double. Another third of the respondents between the ages of 18-34 (31%) said they expected their social networking activity to increase over the holidays.
“We’re seeing huge gains in people shopping and banking online, especially around the holidays,” said personal finance expert Jean Chatzky, who collaborated with Norton on the development and analysis of the study. “The survey shows that people are still unaware of how their online activity can pose a ‘real world’ threat to their finances. It’s like an invitation to cybercriminals.”
“E-commerce is growing in popularity here in the UAE with portals such as Souq.com, operating in Saudi Arabia, Egypt and Jordan as well as headquarters in the UAE that are catering to a considerable 1.5 million users every month,” said Tamim Taufiq, Head of Consumer Sales, MENA for Symantec.
“As the online retail market matures in the region, it is first and foremost in the mind when engineering Norton consumer security solutions that this kind of growth must come hand in hand with education of the ever expanding cybercriminal network as more and more home users turn to the Internet for shopping services,” he added.
“There are so many simple steps people can take online to protect themselves from identity theft, credit card loss and real world threats, and still stay connected,” said Taufiq.