Bank fraud top security concern for UK consumers

Bank fraud is the top concern for UK consumers, beating out malicious attacks at large gatherings, such as the Olympics, and concerns over terrorist attacks on aeroplanes.

The Unisys Security Index showed that security concerns are at the highest levels across the board since the surveys begun in 2007.

Bank card fraud is high on the minds of 93 per cent of UK respondents, who worry about this issue, followed closely by identity theft at 91 per cent. Two-thirds (63 per cent) are concerned about large gatherings being targets for malicious attack, and 74 per cent believe airports and aeroplanes are vulnerable.

The Index tracks consumer security concerns every six months, and this research, conducted in February 2011, shows that the UK consumer’s security concern has jumped 42 points to an index score of 154, representing a serious level of concern – a leap in just six months.

Unisys has attributed the new heights that the country’s national, financial, internet and personal security concerns have reached to changing financial, political and defence landscapes taking their toll.

“These are alarming findings, but when you think about the government austerity measures, the security implications of hosting the Olympics in 2012, threats to aviation security – even the recent hoax bomb which made its way from the UK to Turkey undetected – the public would be justified in feeling insecure,” commented Neil Fisher, vice president of Global Security Services at Unisys.

“Knee-jerk approaches to managing security clearly aren’t working, as the index rate in the UK reflects. Until government and industry come together to address these vulnerabilities in a more collaborative and integrated fashion, the public’s confidence will continue to suffer.”

The Index measures concern on a scale of 0 to 300.

    Share Story:

Recent Stories


Creating value together: Strategic partnerships in the age of GCCs
As Global Capability Centres reshape the financial services landscape, one question stands out: how do leading banks balance in-house innovation with strategic partnerships to drive real transformation?

Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.

Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.

Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.