Consumers Aware of Data Security Risks but Do Little for Protection

January 28, 2016, Written By John H. Oldshue
Security lock with privacy message on white computer keyboard - information privacy concept

Consumers are well aware of data security risks in the modern world, but they show no signs of changing the way they use technology. A staggering 83% of consumers reported that technology has enhanced their daily lives, and 30% of participants said technology has improved their financial status.

These were the findings of a study done by Experian for today, Data Privacy Day.

Despite the heavy reliance on technology, 93% of consumers said identity theft was a growing problem, and 91% believed consumers should be more concerned about data privacy violations. Nevertheless, only 36% of participants said they review privacy policy changes when they receive these notifications, and just 28% of consumers review privacy policies for mobile apps before downloading them.

These statistics reflect those of a similar study recently published by the Center for Generational Kinetics. This survey reviewed how members of “iGen” (people born after 1996) view their privacy and financial future. The study showed iGen is more concerned with the threat of credit card fraud than they are with online privacy violations. This could put the young generation at risk of identity theft in the future.

Our reliance on technology is only going to increase, and so is the threat of data privacy breaches. With that in mind, there are some steps to take to ensure your online financial safety:

  • Only submit your personal information to trusted sources
  • Only enter your credit card information on secure webpages
  • Monitor your card accounts after shopping online to check for fraudulent transaction
  • Never use your PIN for debit card purchases online
  • Make sure your credit card offers fraud protection


The information contained within this article was accurate as of January 28, 2016. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.