A study by IT integrator OTR Group reveals that 70% of Russians encountered fraudulent calls or messages posing as banks or insurers in the last year. Additionally, 32% faced phishing links, and 19% experienced unauthorized attempts to access their accounts or bank cards.
Security concerns significantly impact the adoption of digital financial services. 24% of respondents cite the fear of data or fund leakage as the primary barrier to applying for financial products online. Consequently, 29% have abandoned online loan applications due to these security risks, while 12% have avoided insurance policies and investment products for the same reason.
User trust is closely linked to transparency and verification methods. 44% of respondents would find a government-provided security rating for financial organizations useful, and 24% would refuse to use companies with low ratings. Furthermore, 42% of users are willing to spend up to two minutes on additional security verification steps to protect their assets.
Despite security fears, users show preferences for specific authentication methods. 25% trust confirmation via banking apps or SMS, 21% prefer government service logins, and 14% favor biometric verification. Meanwhile, 15% of users identify the risk of third parties opening financial services in their name as a major concern.
