UK consumers in heavy threft from cyber crime

Nearly 4.6 million UK consumers have had their personal details

stolen and their bank accounts used to buy goods or services, according to new research. A report by business advisory firm Deloitte also revealed that around two-thirds of consumers claimed to have received 'phishing' emails and one in three said they had been a victim of 'cybersquatting'.

Chris Gaines, partner in Deloitte’s enterprise risk services practice, explained: "People are doing more and more online, and as consumers’ digital activities expand, so does their data footprint.

"Consumer awareness of cyber crime is at an all-time high, fuelled by first-hand experience and media coverage of recent high profile security breaches, not to mention government regulation such as the EU ‘cookie law’ which requires organisations to tell web users how their cookies will be used." The research found that nine out of 10 people said they had thought about the need to protect their activities and data online with 88 percent saying they thought it was the responsibility of the companies that collect their data to keep it secure and protect them from fraud.

Gaines concluded: "There is an opportunity for companies to gain a competitive advantage if they can show customers their information will be safe. Customers expect businesses to protect their personal information and are ready to shop elsewhere if these expectations are not met.