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Press Release |
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Brits are Worth £360 Billion to Cyber Criminals
Research Highlights the Value of UK Consumers’ Online
Identities and the Risk of Identity Theft
LONDON – March 5, 2008 – UK Internet users are putting up to
£361 billion1 at risk by sharing personal data on Web sites that are
either not secure or poorly protected, according to a YouGov survey
published today by VeriSign, Inc. (NASDAQ: VRSN), the leading provider
of Internet infrastructure for the networked world.
The pan-European survey on consumers’ attitudes to
online security shows that the average UK consumer is worth £10,077
online. This figure is the total sum of monetary assets available in
the average person’s online accounts, which could include banking, gaming
and shopping accounts.
With 65 percent of respondents sharing personal information
with their online bank each week, 58 percent with online retailers and
31 percent with social networking sites like MySpace and Facebook, the
ability of fraudsters to steal a customer’s details and money online
has substantially increased. In addition, the personal data we all share
– 75 percent of respondents freely giving away their date of birth,
70 percent their home address, and 68 percent their mother’s maiden
name— puts us at risk of having our online identity stolen and used
for real-world crime.
Jon Kerr, VeriSign SSL Manager, UK commented, “It’s
no surprise that online banks and retailers are some of the most popular
targets for identity theft since so many personal details are required
by users. As online transactions increase, we need to acknowledge the
importance of both technology and consumer behaviour in protecting personal
details and monetary assets online. With the average UK consumer worth
over £10,000 to criminals, it's clear that each of us is a target.”
The findings also show there is already a high level
of concern about online data security, with 78 percent of those surveyed
worried about identity theft. The figures are not surprising when you
consider nearly half of the respondents (43 percent) have experienced
online identity fraud or know someone that has been a victim.
However, it's not all bad news. Personal experience
and consumer education campaigns have been successful in raising awareness
of online security with a significant number of those surveyed aware
of security symbols such as the padlock (69 percent) or a security mark
like the VeriSign® Secured Seal (41 percent), which signify secure Web
sites.
Online businesses and technologies are also advancing
with more than 2,500 online merchants adopting VeriSign’s Extended Validation
(EV) SSL Certificates, which turn the address bar green and can be seen
at first glance, when viewed by users of certain high-security web browsers,
making it even simpler for consumers to ascertain that they are viewing
a secure site. The “green bar” technology helps to combat e-criminals
who use fake sites to illegally capture personal details as it helps
assure users that their personal information will only go to their intended
bank or retailer.
“Trust is difficult to build but easy to break,” continued
Kerr. “That’s why thousands of domains are now protected with VeriSign
EV SSL Certificates. By displaying the green bar to site visitors, online
businesses like banks and retailers are communicating that they care
enough to provide the most advanced protection available. And in the
process, they are protecting the relationship they’ve built with customers.”
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Notes to editor
¹ This figure was derived by combining the average exposure level for
UK citizens as researched by YOUGOV with the current adult Internet
connected population of the UK - 32 million.
About VeriSign
VeriSign, Inc. (NASDAQ: VRSN), operates digital infrastructure
services that enable and protect billions of interactions every day
across the world’s voice, video and data networks. Additional news and
information about the company is available at www.verisign.co.uk.
Contacts
Media: VeriSign Media Relations EMEA: Victoria Henry, vhenry@verisign.com,
+44 20 8600 0723
Lydia Curtis, Weber Shandwick for VeriSign, VerisignLondon@webershandwick.com,
+44 207 067 0513
Statements in this announcement other than historical
data and information constitute forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. These statements involve risks
and uncertainties that could cause VeriSign's actual results to differ
materially from those stated or implied by such forward-looking statements.
The potential risks and uncertainties include, among others, the uncertainty
of future revenue and profitability and potential fluctuations in quarterly
operating results due to such factors as the inability of VeriSign to
successfully develop and market new products and services and customer
acceptance of any new products or services, including VeriSign’s Extended
Validation SSL Certificates and solutions, the possibility that VeriSign’s
announced new services may not result in additional customers, profits
or revenues; and increased competition and pricing pressures. More information
about potential factors that could affect the company's business and
financial results is included in VeriSign's filings with the Securities
and Exchange Commission, including in the company's Annual Report on
Form 10-K for the year ended December 31, 2006 and quarterly reports
on Form 10-Q. VeriSign undertakes no obligation to update any of the
forward-looking statements after the date of this press release.
©2008 VeriSign, Inc. All rights reserved. VeriSign,
the VeriSign logo, the checkmark circle, and other trademarks, service
marks, and designs are registered or unregistered trademarks of VeriSign,
Inc., and its subsidiaries in the United States and in foreign countries.
All other trademarks are property of their respective owners.
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