Chicago,
12
November
2015
|
03:26 PM
America/Chicago

TransUnion: 45% of Hongkongers consider e-banking via smartphones or devices to be “unsafe”

One out of four respondents have not changed their e-banking passwords in past three years

e-banking on the go is becoming increasingly popular in Hong Kong, but consumers are not sufficiently protecting themselves from potential identity theft and financial security risks that are on the rise.

According to an online survey of 500 adults conducted by Zogby Analytics and commissioned by TransUnion (NYSE: TRU), 40% of respondents said they conduct e-banking via a smartphone or device three or more times a month on average. Yet, 45% of respondents consider e-banking via smartphones or devices to be unsafe, and said they are worried about potential identity theft during e-banking via their smartphones or devices.

Furthermore, the survey found that one out of four Hongkongers have not changed their e-banking passwords in the past three years. Nearly 23% said they use the same password across more than one application, including mobile e-banking, email and social networking (13.8%), or do not take any steps to protect their identities (9%).

When asked what their main concern would be if their phone were lost or stolen, over half of the respondents (52%) said they would be most concerned about their personal data or information being compromised. The “cost and time needed to replace the device” was the least mentioned concern at 7%.

Commenting on the results of the survey, Samuel Ho, chief executive officer for TransUnion Hong Kong, said, “Most Hongkongers generally lack a clear understanding of how certain behaviours put them at risk for identity theft or fraud. Regular credit monitoring allows consumers to quickly assess their credit reports for any suspicious activity that could be tied to unauthorised changes in personal data or unexpected purchases.”

Ho added, “Consumers can also protect themselves by setting a unique password on their phones and each of their applications; such as mobile banking, e-mail and social networking sites; randomising PINs and passwords and being careful when giving out sensitive data online or via their smartphones. They should also avoid conducting e-banking or accessing sensitive information on public Wi-Fi networks.”

To learn more about credit management and get a comprehensive view of their credit status, Hong Kong residents can visit www.transunion.hk.

Methodology

Using trusted interactive partner resources, Zogby Analytics invited 500 adults in Hong Kong to participate in TransUnion’s online survey. Each invitation was password-coded and secure, ensuring that a single respondent could access the survey just once. The margin of error for 500 is +/- 4.5 percentage points, based on a confidence interval of 95%. This means that all other things being equal, repeating an identical survey will produce results within the margin of error 95 times out of 100.

About TransUnion (NYSE:TRU)

Information is a powerful thing. At TransUnion, we realize that. We are dedicated to finding innovative ways information can be used to help individuals make better and smarter decisions. We help uncover unique stories, trends and insights behind each data point, using historical information as well as alternative data sources. This allows a variety of markets and businesses to better manage risk and consumers to better manage their credit, personal information and identity. Today, TransUnion reaches consumers and businesses in more than 30 countries around the world on five continents. Through the power of information, TransUnion is working to build stronger economies and families and safer communities worldwide.

We call this Information for GoodSM. www.transunion.hk