Almost half of consumers in Malaysia have had their financial information compromised, according to KPMG’s Consumer Loss Barometer –The Economics of Trust reported.
The report said 49 per cent of consumers from Malaysia have had their financial information compromised higher than the global average of 37 per cent.
The study further revealed that 69 percent of consumers globally reporting concerns about their technology being compromised.
Respondents in Malaysia are particularly concerned about their apps (95 per cent), Wi-Fi (82 per cent) and cloud (77 per cent) being compromised.
KPMG’s study delved deeper into the economics of trust within the financial services sector and found that 40 per cent of consumers in Malaysia believe their financial institutions should have full or joint responsibility for ensuring that mobile devices used for mobile banking are secured.
KPMG Malaysia head of financial services Adrian Lee urged financial institutions to show they take security of their customer’s information seriously, both in their customers’ broader security needs and in their interactions with them.