- Today's societies are increasingly digitally connected: 66% of the world's population owns mobile devices and 38% of respondents use smart devices.
- However, 36% of respondents have been the victim of data loss, identity theft or digital fraud.
- The new edition of the "Circles of Trust" series, a new whitepaper from cybersecurity experts Utimaco, finds significant differences between regions in terms of confidence in their digital se
Aachen, Germany, July 11, 2023 - Utimaco, a leading global provider of IT security solutions celebrating its 40th year as a pioneer in trusted cybersecurity and compliance solutions and services for customers around the world, has released a new whitepaper, "Circles of Trust 2023: Exploring Consumer Trust in the Digital Society"', which takes an in-depth look at how consumers view trust in an increasingly digitized world.
Whereas just a few decades ago the Internet was something that could only be accessed from large, immobile personal computers, today it is everywhere. Digital connections are not just on the mobile devices owned by 66% of the world's population - they are on the streets, in vehicles, in traffic systems and in dozens of places in our homes. Consumers don't just need to trust their bank to keep their money and data safe: they need to trust that there are no privacy vulnerabilities in their light bulbs.
In light of this, Utimaco published its first edition of the Circles of Trust series in 2022 focusing on a sample from the United Kingdom (UK), Spain and Germany, covering key sectors from automotive cybersecurity to public and healthcare to uncover consumers' perceptions of the digital services they use on a daily basis. The research found a central contradiction of digital life: consumers were highly enthusiastic about digital offerings, from connected vehicles to digital health services, but equally wary of the security risks around these digital services.
This year's research found that this central contradiction remains, but by expanding the geographic scope to the United States of America (USA), Mexico and Singapore, Utimaco has deepened its understanding of trust in digital life. The new research analyzed and focused on banking, the Internet of Things (IoT) and smart cities and found the following key points across the globe:
- Only 19% of respondents are not concerned about the security of their data.
- 36% of respondents have been victims of data loss, identity theft or digital fraud.
- 41% of respondents believe that a connected world would make their daily lives easier.
Mexico, along with Spain, is the country that is most concerned about the security of its data, which should encourage all types of organizations (government, banking, etc.) to invest and focus more on robust encryption systems that offer protection and security to the data of their customers/users.
Mexico and the USA are the countries with the highest crime rates, the most likely to admit to being victims of cybercrime in the financial sector and the most likely to report fraud. The two Americas stand at 34% awareness of the dangers of phishing.
At the same time, 32% of Mexicans say they are unaware of how to manage the security of their data in digital financial environments.
Against this backdrop, financial institutions operating in Mexico must redouble their efforts to educate and raise awareness among their customers in terms of banking security (phishing frauds involving the user are more common than hacks) and communicate that the personal data handled by banks are protected, by regulation, with robust technology that minimizes the risks of fraud such as digital identity theft, money theft, fraudulent financial transactions...
After Spaniards, Mexicans are the ones who trust and bet on digital payments the most.
Mexicans are overconfident in some aspects of data security but are learning from their experience.
Mexicans are the most optimistic about the development of IoT in the next 5 years. However, they are concerned about the security of data managed by manufacturers and costs.
Mexico has a markedly greater interest in cameras and public safety technology than other countries, although they also have a significantly greater interest in smart home and connected vehicle technologies. This may be because these technologies are already prevalent in other countries and it is equally possible that Mexico's relatively high crime rate means that surveillance could solve a widespread problem. Along with their interest in the development of optimal transportation and traffic within a smart city, they are interested, like the Spanish, in the benefits of energy efficiency.
In short, they see the smart city as synonymous with a safe city that will make their lives easier.
"We pride ourselves on driving the conversation around digital trust. At Utimaco, we see our role as not only creating hardware and software that provide the 'root of trust in a digital world,' but also communicating to our customers the social context of that technology. In short, every security system in the world will be more effective if end users know and trust that they are," says Stefan Auerbach, CEO of Utimaco. "We see the Circles of Trust research series as a vital tool for testing the temperature of digital trust around the world, and an invaluable resource for any company working on an international scale."
The latest edition of the "Circles of Trust" is published in the same year that Utimaco celebrates its 40th anniversary as a pioneer in trusted cybersecurity and compliance solutions and services for customers around the world.
To download your copy of 'Circles of Trust 2023: Exploring Consumer Trust in the Digital Society', visit: https://utimaco.com/survey-how-trust-works-digital-world
Utimaco ist ein globaler Plattformanbieter vertrauenswürdiger Lösungen und Dienstleistungen für Cybersicherheit und Compliance mit Hauptsitz in Aachen und Campbell (USA). Utimaco entwickelt lokale und cloudbasierte Hardware-Sicherheitsmodule, Lösungen für Schlüsselverwaltung, Datenschutz und Identitätsmanagement sowie Data Intelligence-Lösungen für regulierte kritische Infrastrukturen und öffentliche Warnsysteme. Utimaco ist einer der weltweit führenden Hersteller in seinen wichtigsten Marktsegmenten.
Über 550 Mitarbeiter rund um den Globus entwickeln innovative Lösungen und Dienstleistungen zum Schutz von Daten, Identitäten und Kommunikationsnetzen und übernehmen Verantwortung für Kunden und Bürger weltweit. Kunden und Partner in vielen verschiedenen Branchen schätzen die Zuverlässigkeit und langfristige Investitionssicherheit der hochsicheren Produkte und Lösungen von Utimaco.