CSI Cybersecurity Survey: Consumer Perceptions Emphasize Need for Cybersecurity Education

Computer Services, Inc. (CSI) (CSVI), a provider of end-to-end fintech and regtech solutions, has released the findings from its cybersecurity survey, conducted by The Harris Poll on behalf of CSI. The executive report reveals key insight into this year’s survey results and a comparison to data from 2019, analyzing how consumers’ cybersecurity concerns have changed.

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@CSIsolutions Cybersecurity Survey: Consumer Perceptions Emphasize Need for Cybersecurity Education

The poll ran online June 10-14, 2021, and represents feedback from nearly 2,100 Americans age 18 and older about their security concerns, beliefs and practices. The global pandemic accelerated the adoption of online shopping and mobile banking among consumers, making cybersecurity education a top priority for financial institutions. According to the results, consumers are most concerned about identity theft (60%) and stolen debit or credit card information (60%). Additionally, 30% of consumers believe it is okay to use the same password for an online bank account that is used for other online accounts, which marks an increase of six percentage points from 2019.

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“While the financial industry has always been vulnerable to cyberattacks, the increased usage of online and mobile banking among consumers has heightened the risk,” said Kurt Guenther, CSI’s Business Solutions group president. “In today’s increasingly digital world, it is vital for financial institutions to take a proactive approach to cybersecurity, which starts with establishing the importance of security awareness and best practices to their customers and members.”

In addition to mitigating the risk of attacks, financial institutions that prioritize cybersecurity education can also experience an increase in customer retention. Nearly half of consumers (48%) indicated they would leave their financial institution if it suffered a data breach.

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