People are willing to pay more for better protection

About 73 percent of 1,000 consumers surveyed in the U.S. said they are worried about identity theft and fraudulent use of their bank accounts or credit cards, compared to 51 percent who expressed such fears in 2004. Nearly 17 percent of consumers cited instances of identity theft, while 42 percent said their banks informed them of threats of phishing.

Some 40 percent of people who took part in a poll, are willing to pay fees for greater protection of their online transactions and bank accounts, compared to 27 percent who were ready to do so last year.

This consumer attitude will likely drive banks to adopt more sophisticated security solutions. Otherwise, they risk losing existing and potential customers, as well as revenue streams and brand reputation.

This blog is run by the authors of Find Protected, an effective information security solution.

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