Over half of Brits concerned by online payment security

A large portion of British citizens are concerned about ensuring online transactions are secure and protecting their personal data, according to a European Commission (EC) research.

The EC claims that 56 per cent of British respondents reported concerns over online payment security, while 49 per cent reported having concerns about criminals and companies misusing their private data.

Despite being less concerned about how their personal information is used, the study revealed that 89 per cent of Britons agreed people should avoid disclosing personal information online.

The findings come as a part of a wider survey of 27,000 people across all EU member states to explore the cyber concerns of citizens.

The UK's concern over payment security runs contrary to the survey's general findings.

Overall the research revealed that 40 per cent of European citizens are concerned about people misusing their personal data while only 38 per cent are concerned over online payment security.

The survey also suggested that citizens are heeding warnings from the security industry that the cyber threat facing Europe is increasing, with 74 per cent agreeing the risk of becoming a victim of cyber crime has gone up in the past year.

The EC went on to praise European citizens increased awareness of cyber crime.

"Cyber criminals must not be allowed to disrupt our use of the internet. The more we know about the risks and how to protect ourselves, the more we can truly maximise our digital lives", said Cecilia Malmström, EU commissioner for Home Affairs.

The findings come on the same day that the EC outlined plans to make make €1.5bn available for investment in ICT research funding to try and boost the region digital economy.