Consumers trust banks, not PINS, for mobile security

Consumers trust banks, not PINS, for mobile security

Ninety-two per cent of people trust their bank more than mobile operator to secure their personal details, according to a survey conducted among 300 respondents by Dublin-based security technology vendor Trust5.

The survey also reveals that 57% of the sample have not changed the PIN number that was issued to them by their bank. Of those who have changed their PIN, 52% chose numbers that would be easy to remember such as birthdays or phone numbers. Seventy-seven per cent of respondents say they have their PIN written down while 51% say they use the same PIN for different things.

Over 71% of respondents indicate that they would not feel safe transmitting their PIN over a mobile phone. Sixty-one per cent say they would be happier speaking into a phone for authentication, than using PINs and passwords.

Paul O'Grady, CEO, Trust5 comments: "This survey produces some alarming results in relation to peoples use of PIN numbers. This is the main level of security that is used on a lot of devices and how people guard and protect this number is extremely important, otherwise it becomes ineffective and easily compromised. The survey also reveals that people feel more comfortable using different layers of security and biometric solutions."

Trust5 launched a secure top up service for pre-paid mobile phones in April. The T5 PrePay SMS service operates via a text message request, which is followed by an instant voice verification security check.

Comments: (0)

EBA Winter School 2019

Trending Stories