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One In Five Brits Have Been Hit By Cybercrime This Year

Michael Moore joined TechWeek Europe in January 2014 as a trainee before graduating to Reporter later that year. He covers a wide range of topics, including but not limited to mobile devices, wearable tech, the Internet of Things, and financial technology.

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Personal details and bank accounts among information stolen by criminals, Deloitte survey finds

A new survey from Deloitte has suggested a fifth of consumers have been the victim of cybercrime this year

Twenty-one percent of respondents claimed they have had personal details stolen and their bank accounts used to buy goods and services as a result of a cyber security breach.

Two-fifths (39 percent) had personal data stolen or deleted after having computers affected by a virus or malware, up from 26 percent in 2013. Forty-one percent also said that they often feel they are being targeted by cyber criminals, showing the affect that major data breaches have had on consumer sentiment.

Aware

Hacker, programmer, cyber crime, keyboard, computer © scyther5, Shutterstock 2014One positive is that the rise in high-profile data breaches, such as the one that hit TalkTalk last month, does appear to be paying off in raising consumer awareness of how their data is collected and stored by companies.

However, more than half (53 percent) were still not aware of the amount of their personal data collected by organisations, up from 37 percent in 2013. Similarly, just 23 percent of respondents are confident that companies are transparent when it comes to using personal data, down from 29 percent a year ago.

Three-quarters (73 percent) would reconsider using a company if it failed to keep their data safe. This was a far greater concern to consumers than a company charging a higher price than the competition for an equivalent level of service (51 percent), exploiting workers overseas (40 percent) and damaging the environment (35 percent).

“The volume and value of data available online means that consumers are now more exposed than ever before,” said Simon Borwick, director in the cyber risk services team at Deloitte.

“The rapid rise in e-commerce, both at a B2C and B2B level, has increased the amount of transactional data at risk of abuse. Consumer-facing businesses, particularly those that hold a lot of data, are particularly attractive targets for cyber criminals and fraudsters looking to profit from stealing personal information.

“Many organisations are struggling to prepare themselves to deal with the wide range of different cyber-attacks. Cyber security has moved beyond simply being an IT issue; it is now a business-wide risk which requires immediate attention at the highest level.”

More than two-thirds (72 percent) of the respondents also believed it was the responsibility of companies to provide them with the tools they need to protect their privacy, security and identity.

Many now carry out a personal security review after a major cyber-attack (76 percent, up from 52 percent in 2013), or even reduce their online activity altogether (56 percent, up from 34 percent in 2013).

Know all about 2015’s biggest data breaches? Take our quiz here!