44% of Mobile Banking Users Not Concerned about Hacking

March 7, 2016, Written By Natalie Rutledge
44% of Mobile Banking Users Not Concerned about Hacking

Surprisingly, there is a lack of concern about hacking among mobile banking users, according to a new survey from Norton. The study assessed more than 5,000 people from the United States, the United Kingdom, Australia, Canada and Japan, and found that 44% of respondents were not concerned about financial hacks on their smartphones.

10% of survey participants said they had absolutely no concern about a hacker getting into their phones. These respondents felt there was nothing hackers could take from their mobile devices that would be worth the worry. 56% of those surveyed said they were comfortable using mobile apps to manage their finances and banking information, while 44% said they were comfortable using home security apps to monitor their homes.

This lack of concern for mobile banking hacking is a surprising contrast to another survey from Norton in November 2015. This study showed 62% of consumers believed their credit card information was at risk online, and 47% of respondents said they had already been the victim of cybercrime.

Perhaps the most critical statistic in last year’s study was that almost 90% of respondents said they would be “devastated” if their financial information was compromised. This concern does not appear to be as prevalent among mobile banking users.

The information contained within this article was accurate as of March 7, 2016. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About Natalie Rutledge

Natalie Rutledge majored in Communications at Mississippi State University. She was in sales for a number of businesses and spent nine years working as a communications advisor to various entities. Natalie can be contacted directly at natalie@lowcards.com
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