Consumers Expect Companies to Protect Financial Information Online, ING Survey Finds

93% of adults are fully aware of the risks involved with managing finances online, according to the survey.

According to a recent survey conducted by ING, nine in 10 adults agree that financial services companies should be doing more to protect their customers' personal and financial information.

Further survey findings indicated that 75% of survey respondents access financial accounts online, such as checking, savings, 401(k) or investment accounts. However, when it comes to their level of experience with protecting their personal and financial information online, just 5% of adults surveyed characterize themselves as being an expert. While few consider themselves experts when it comes to protecting their personal and financial information online, 93% agree that they are aware of the risks involved with managing financial accounts online.

Due to the high levels of awareness regarding online security threats, 93% of survey respondents report that they take online privacy and security very seriously and take steps to help protect their personal financial information online, most commonly keeping their anti-virus software updated (72%), only accessing their accounts from secure computers (60%), and only working with companies or financial institutions that they trust (56%). However, 84% expect companies to notify them of any suspicious activity and to utilize the most up-to-date security protocols and software (76%).

Despite measures both individuals and companies take to secure information, two-thirds of survey respondents (67%) worry about the online security of their savings and investments. Additionally, over a quarter (26%) feels that their financial information is not secure online.

The web-based survey was conducted by Ipsos Public Affairs from July 23-28, 2010, and polled a national sample of 1,005 adults aged 18 and older.