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Fraud and Security Survey: How Do Attitudes Differ by Gender?

Our recent fraud and security survey of 2,000 US adults allowed us to look at the data by different demographic factors. In an earlier post I wrote about how fraud and security issues differ by age group. In this post I’m looking at the impact gender has on how people view fraud and security online and the tolerance they have for how their banking providers manage it. (Sample size means that gender is represented in this analysis by male and female.)

This was by no means a polarizing issue: Of the factors considered, the maximum difference between male and female responses was 16 percentage points. Here are some of the findings.

Online Banking

  • While most people are prepared to open a bank account online , woman are slightly less likely to do so; 26% said they wouldn’t, compared to 17% of men.
  • Women have an average of 2.48 online bank accounts compared to 3.89 for men.
  • Once they have started an account opening woman are more likely to stick with it, even if it gets more complicated. When opening a bank account online and asked to take an action offline, such as take a phone call, visit a branch or post some documents, 29% of men say they will abandon the account opening, whereas only 18% of women will.

Security Measures

  • Men are less tolerant of security measures than women; 41% feel there are too many security measures, only 25% of women reported this.
  • 37% of men also find security measures over-complicated, compared to 30% of women.
  • Despite being less tolerant of security measures, men were also more likely to report they’d been a victim of identity fraud., 27% of men say their identity has been used by a criminal to open an account, while only 16% of women report this.
  • Women seemed to expect more from their banks in terms of security. For example,, 33% of men think banks do enough to check for identity at account, opening whereas only 23% of women do.
  • Women were also less forgiving if they felt their bank dealt with a fraud incident poorly; only 12% would carry on using the account as normal, compared to21% of men.
  • A bigger proportion of men would assign responsibility for protection of their bank account to either themselves or to the bank; women were more likely to see it as a joint responsibility with their bank.

Chart Source: FICO Blog

 

In many respects there was little difference between male and female attitudes. For example, if a fraud is suspected on an account, both men and women had similar preferences as to how they would want to be contacted with most opting for phone notification.

Chart Source: FiCO Blog

These are just some of the results of our consumer fraud and security survey. We asked many more questions and also surveyed 2,000 people in the UK. Join our Tweet Chat to learn more.

Tweet Chat October 30 4pm GMT, 9am PDT, 12pm EDT #fraudtrends

 

 

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