Security News > 2021 > October > Erosion of digital trust: Consumers want more personal information protection

Consumers think banks, retailers and mobile operators need to do more to protect them and their personal information from fraudsters, according to Callsign.

Trust in these organizations is eroding fast because consumers say they are overwhelmed by scam messages from fraudsters spoofing brand names daily.

"Callsign's data demonstrates that consumer trust in our digital world has vanished and, rightly or wrongly brands, are being blamed. Yet the sense is that little is being actually done to purposely re-establish digital trust through complete and accurate digital identities," explained Stuart Dobbie, Senior Vice President, Innovation, Callsign.

The survey of global consumers - including Hong Kong, India, Indonesia, Philippines, and Singapore - revealed that almost half of consumers say their trust in businesses such as banks, retailers, mobile network operators and delivery companies, has decreased due to persistent scams spoofing brand names.

With global consumers asking mobile network operators to do more to stop scammers using their platforms, and a third asking the same of banks.

Over half of all consumers don't trust organizations to keep their data safe; 43% of scam victims react with suspicion wanting to know where fraudsters got their details.

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