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Last Updated : Aug 10, 2020 02:31 PM IST | Source: Moneycontrol.com

Indians concerned about security of data shared with banks, retailers, survey finds

The study revealed that 73 percent respondents were willing to share health record data with insurance companies for recommendations on addressing potential medical issues, while 72 percent were willing to share data with government agencies to expedite access to services such as driver’s licence and government benefits.

Despite Digital India getting a policy push, concerns around the security of online banking and commercial transactions are high among Indians, a global survey conducted by Unisys, an international information technology company, has found. As many as 82 percent respondents from the country expressed concerns about unauthorised access to credit card or debit card details.

When it came to willingness to use a mobile app with facial recognition to access various services, the percentage of individuals willing to take this route to avail financial services such as credit cards or home loans was considerably less as compared to other online services considered.

Indians also expressed unwillingness to share personal data on buying habits with their banks or retailers, despite benefits such as alerts about suspicious activity or personalised offers from retailers, the survey found. The top reason given for this unwillingness was attributed to concern around security of the data shared, the survey by Unisys showed. The company has been publishing Unisys Security Index since 2007.

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The findings also revealed that the majority of Indians are willing to share private data with the government in return for citizen benefits. This includes location data so police can find them in an emergency or data on their travel habits so they can get through airport security quickly, with 79 percent and 73 percent of respondents willing to share this data with the government.

The study revealed that 73 percent respondents were willing to share health record data with insurance companies for recommendations on addressing potential medical issues, while 72 percent were willing to share data with government agencies to expedite access to services such as driver’s license and government benefits.

“The findings show Indian consumers are very aware of data security threats in the digital world with financial data targeted by malicious attacks. While the pandemic has forced many of us to adopt digital platforms for financial transactions, consumers are very concerned about data security,” Sumed Marwaha, managing director, Unisys India and regional vice-president, services, Unisys, said.

The survey has been conducted across nationally representative samples of at least 1,000 adults in countries such as Australia, Belgium, Brazil, Chile, Colombia, France, Germany, India, Mexico, the Netherlands, New Zealand, the Philippines, Singapore, the UK and the US.
First Published on Aug 10, 2020 02:30 pm
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