Feeds

Verisign Scrooges envisage £4.86bn festive forfeit

Ghost of insecure Christmases past for etailers?

Internet Security Threat Report 2014

Online retailers have rubbished claims from the security industry they stand to miss out on billions of pounds of trade this Christmas because of lingering public mistrust in internet transactions.

According to Verisign's 2006 online shopping research, 54 per cent of UK consumers have abandoned a transaction because of security collywobbles. By its reckoning £4.86bn could escape online stores in the run-up to this year's festivities.

The extent of the problem was disputed today by Interactive Media in Retail Group (IMRG) chief executive James Roper. He said: "We won't be missing out on that kind of figure."

The IMRG represents big names in online commerce such as Amazon and Lastminute.com, along with the electronic incarnations of high street perennials Argos and John Lewis.

Roper said: "People have gotten better at online shopping. Credit cards offer excellent protection." He said the IMRG was receiving very few complaints about dodgy online shopping experiences these days.

The IMRG is anticipating another bumper Christmas with the growth of broadband making customer experiences more direct. It said yesterday the industry was growing at £50m per month, and sales of £2.73bn made this October was the best month ever.

Roper said a new wave of investment had come in once the industry recovered from the dot com crash which meant customers had renewed faith in etailers. Twenty-five million Brits will shop for pressies online this Christmas, according to the IMRG.

The research from Verisign is part of a bid to get its "Verisign Secured" seal on more shopping sites, which Verisign reckons would give consumers more confidence. Verisign marketing programs manager Andrew Horbury told us the firm was catching one site a week in Europe displaying a fake security seal graphic. Although it offers the service free to its SSL customers, only a third have taken it up so far.

The firm itself is missing out this Christmas thanks to Microsoft missing its Vista deadlines. The "traffic light" address bar system in IE7, which Verisign hopes to flog a new generation of SSL certificates on the back of, won't be turned on until consumers get their mitts on Vista in January. ®

Internet Security Threat Report 2014

More from The Register

next story
George Clooney, WikiLeaks' lawyer wife hand out burner phones to wedding guests
Day 4: 'News'-papers STILL rammed with Clooney nuptials
Shellshock: 'Larger scale attack' on its way, warn securo-bods
Not just web servers under threat - though TENS of THOUSANDS have been hit
Apple's new iPhone 6 vulnerable to last year's TouchID fingerprint hack
But unsophisticated thieves need not attempt this trick
PEAK IPV4? Global IPv6 traffic is growing, DDoS dying, says Akamai
First time the cache network has seen drop in use of 32-bit-wide IP addresses
Oracle SHELLSHOCKER - data titan lists unpatchables
Database kingpin lists 32 products that can't be patched (yet) as GNU fixes second vuln
Researchers tell black hats: 'YOU'RE SOOO PREDICTABLE'
Want to register that domain? We're way ahead of you.
Stunned by Shellshock Bash bug? Patch all you can – or be punished
UK data watchdog rolls up its sleeves, polishes truncheon
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.