30% of businesses that work with online cash flows do not provide and do not plan to provide protection for customers' devices during transactions
The level of security provided by e-commerce companies to users who transact with them is low, according to research conducted by Kaspersky Lab and B2B International.
Specifically, only 52% of financial companies and 46% of e-commerce businesses believe they need to take enhanced measures to protect financial transactions. Even fewer companies in this sector provide protection for their customers’ devices.
E-commerce companies are the least focused on protecting financial activities. 16% of companies in the sector say they are not interested in installing dedicated security solutions against online fraud, while only 38% are willing to invest in such tools
Overall, 30% of businesses working with online cash flows do not provide or plan to provide protection to customers' devices during transactions, even though this is the weakest point in the security chain, with potential consequences for customers' money loss, as well as damage to the company's own profits and reputation.
28% of businesses are not interested in installing anti-cyber theft software on their customers' mobile devices, while 30% of businesses do not try to protect their own information infrastructure from potential online fraud.
According to the study, a casual attitude towards payment protection can lead to negative customer feedback. About 75% of users expect financial companies to take responsibility for the security of their devices. Also, 40% of respondents feel confident that the company will offer compensation for any lost money.
However, Kaspersky Lab statistics show that the number of digital threats targeting individual users’ financial data is constantly growing. For example, according to Kaspersky Security Network, attacks using malware targeting banking transactions reached 1.4 million between May 19 and June 19, an increase of 15% compared to April 19 to May 19.
“Nowadays, it is not so likely that we will see criminals robbing banks, storming them, shouting “Robbery!” and shooting in the air. More and more crimes are “moving” to the digital world. Cybercriminals are targeting banks, following the less protected links in the chain, namely customers’ devices and the transactions carried out with them. To protect customers and their funds – and consequently their corporate reputation – financial institutions should use comprehensive and multi-layered solutions that proactively address fraud, in order to maximize efficiency and optimize the user experience. Leveraging a single platform that protects both the customer’s endpoint and the bank’s environment provides targeted and comprehensive prevention where other solutions fail,” said Ross Hogan, head of global cyber theft at Kaspersky Lab.
Source: protothema.gr
