UK consumers distrust businesses over ID fraud

News by Fiona Raisbeck

Nearly half of British consumers do not trust their bank or building society to look after their personal data and prevent identity fraud, according to a new poll.

Nearly half of British consumers do not trust their bank or building society to look after their personal data and prevent identity fraud, according to a new poll.

Even more alarming for online retailers, 45 per cent claimed to be prepared to give up online banking and shopping to avoid becoming a victim of identity theft, a YouGov survey shows.

The figures also suggest that there is a difference in trust between younger and older people. While a fifth of 18-24-year-olds trust mobile-phone companies with their details, only five per cent of over-55s share the same view.

”Identity fraud is a major issue for consumers and it’s clear companies need to do much more to win their trust,” said Rob Laurence, MD of fraud prevention at data services company GB, in a statement.

“Demonstrating clearly to customers the attention that is being paid to safeguarding them against identity fraud will go a long way in restoring faith,” he added.

YouGov questioned 1,972 UK adults in the survey for GB.

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