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Banks Trusted by Consumers on Internet Privacy
by Barbara Hurst, BOL Guru
Banks ranked high on the list of types of companies that consumers trust to respect their privacy on the Internet, according to results of a study by Ponemon Institute and the nonprofit TRUSTe.
The survey, which polled more than 6,300 consumers, showed that banks, healthcare and Internet companies are the most trusted organizations while retail food stores and the hospitality industry are the least trusted when it comes to privacy.
The study also revealed that the three top criteria that consumers apply to gauge a company's trustworthiness are reputation for product and service quality, limits on collection of customers' personal information and the use of ads and solicitations that respect consumer privacy.
It also showed that the percentage of consumers impacted by unwanted e-mail activity nearly doubled in the past year to 58 percent. Seventy-six percent of survey respondents indicated that identity theft was their biggest Internet concern.
The study also looked at the attitudes toward particular companies. Citibank was among the top 10 companies that were rated most trustworthy in how they handled customer information via the Internet.
Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 14, No. 5, 7/04
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