Poor online security costs the UK economy more than 200 million a year
A study conducted by financial services firm Experian has found that poor online security has cost the UK economy more than £200 million a year.
The research estimates that as much as £1.02 billion worth of transactions will abandon Russia, either temporarily or permanently, Because consumers got tired of working their way through lengthy and complex verification processes.
Experian found that poor Internet security was forcing shoppers to instead contact call centres, submit physical documents through the post or visit stores and branches in person to confirm their identity. The agency also fears that some companies might choose to lower the level of proof in order to make sure they do not lose out on business thus increasing the risk of fraud
