Back in April I wrote about how a lack of IoT security could create public safety risks (see Hacking Infrastructure: How a Lack of IoT Security Could Endanger Public Safety). It now appears that 16-35 year olds (the age demographic dubbed as ‘Millennials’) in the U.S and UK have little faith that there are sufficient safeguards in place to protect their personal data.
Intercede, a software company specializing in identity and credential management, recently released the findings of a new consumer survey that show Millennials are losing trust in today’s digital economy. Fewer than 5 per cent of respondents believe their digital identity and personal data are completely protected by effective safeguards.
The research, conducted by Atomik Research, questioned approximately 2,000 16-35 year olds across the UK and US on their perceptions of current security measures. The results indicate a general ‘Millennial malaise’ towards existing safeguards, namely the use of easily-hackable but widely used password-based authentication methods. A quarter of Millennials questioned access more than 20 password-protected websites, applications or devices over the course of a year, with 45 per cent claiming they only ever change passwords when they have to. Only 6 per cent believe their data is completely secure based on the password policy they apply.
When asked about the impact of an increasingly digitally-connected world, such as the increased use of mobile devices and tablets on their digital privacy, nearly 70 per cent of Millennials believed the risk to their online safety will increase – with 31 per cent believing this increase will be dramatic. More disturbingly, 54 per cent felt the failure of companies and governments to adequately protect identities and data would result in public distrust of goods and services. A further 44 per cent believed there will be an eventual decline in data sharing and 36 per cent predicted demands for action. Smaller but still significant percentages of the research group said there is potential for a decline in economic or political stability as a result of the risk.
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