Security News > 2022 > September > 62% of consumers see fraud as an inevitable risk of online shopping

59% of consumers are more concerned about becoming a victim of fraud now than they were in 2021, according to ac research released by Paysafe.

Consumers across North America, Latin America and Europe are prioritising security over convenience when making online purchases, as the impact of rising inflation and energy prices continues to fuel financial worries.

The research revealed that 62% of people are so concerned about fraud they feel it is simply an inevitable risk of online shopping, a major jump from the 45% who said the same in 2021.

Over twice as many consumers chose security over convenience as the most important factor when paying for an online purchase.

Although security experts often discuss the limitations of password protection, consumers are now rallying behind the password as a familiar means of security.

With fraud concerns clearly at the top of the agenda for consumers, merchants that offer multi-factor authentication methods can instill confidence in consumers that their transactions are secure.

News URL

https://www.helpnetsecurity.com/2022/09/06/consumers-concerned-fraud/