UK internet users are putting up to £361 billion ($730 billion)
at risk by sharing personal data on websites that are either not
secure or poorly protected, reveals a study commissioned by
internet security services provider VeriSign and undertaken by
consultancy and research company YouGov.

The huge figure was derived from the UK’s total internet
population and the sum of monetary assets available in UK
consumers’ online accounts, as researched by YouGov. The average
sum in the accounts, which could include banking, shopping and
gaming, is £10,077.

Indicative of the risk of online fraud, the survey found that 65
percent of respondents share personal information with their online
bank each week, 58 percent with online retailers and 31 percent
with social networking sites such as MySpace and Facebook. Of those
surveyed, YouGov found that, for example, 75 percent readily
provided their birth date online and 70 percent their home address,
actions VeriSign stressed puts them at risk of having their
identity stolen and used for crime.

YouGov’s findings also show there is a high level of concern
about online data security, with 78 percent of those surveyed
worried about identity theft. The figure is not surprising, given
that 43 percent of respondents have experienced online identity
fraud or know someone who has been a victim.

However, on a positive note VeriSign said personal experience
and consumer education campaigns have been successful in raising
awareness of online security. Notably, of those surveyed 69 percent
are aware of security symbols that signify websites that encrypt
sensitive information during online transactions such as the
padlock or the VeriSign Secured Seal.