Home Business NewsBusiness 79% of millennials trust their personal information they provide online is kept private

79% of millennials trust their personal information they provide online is kept private

17th Apr 18 3:03 pm

New study shows

UK millennials are extremely relaxed with regards to sharing information online, and barely worry about their online security, according to new research.  

The study, of 1000 millennials aged between 18 and 34, carried out by short-term loan provider, Satsuma, probed into the online behavioural habits of today’s adolescents, and their attitudes towards online safety, in terms of their confidential information.

Banks are the institution seemingly most trusted, with a huge 85% of millennials stating that they have faith in their banks to keep their information private and safe. Almost two thirds (60%) also trust online retailers with their personal information, and would be happy to make an online purchase with a new retailer 

Social media is also highly trusted, with 61% of respondents saying that they believe any personal data shared with providers such as Facebook or Snapchat, will remain confidential. Over half (55%) also admitted that they believe their data is safe when they share it to use mobile phone applications.

44% of millennials wouldn’t think twice about sharing any type of personal information online, believing they would be safe and protected, and almost half (48%) admitted that they were happy to share as much information as necessary, if this resulted in a better deal for them on a product or service. 25% of those questioned said they “didn’t care” if their data was shared with other companies.

A spokesperson, from Satsuma commented: “Millennials have grown up online, so it’s quite natural that they feel safe and protected while operating in this environment. Even so, it’s a little concerning how happy they are to share data, and how little they are thinking about their online security.  With the new laws on GDPR coming into effect from May, and companies such as Facebook being forced to become transparent with regards to their use of data, consumers will be more protected than before, but it’s still really crucial for everyone to be vigilant and careful when it comes to safeguarding their own personal data – ultimately, every individual is responsible for themselves.”

Dr Jessica Barker, from online security firm Redacted, adds: ‘Younger people are more likely to trust established brands, which can put them at risk of being less responsive when a large brand has a data breach.  It’s more important than ever to make sure you know exactly what you are signing up to and where your data could potentially be shared if you decide to put your information online.”

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