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Millennials are rapidly losing trust when it comes to online security

Given the amount of data breaches and hacking that goes on these days, it's not surprising to hear that a new piece of research (from Intercede) has found that millennials are swiftly losing trust in the digital world.

The survey, which questioned some 2000 folks aged from 16 to 35 years old in the UK and US, and was conducted by Atomik Research, found that only 5 per cent believed their digital identity and personal data was "completely protected" by effective security measures.

A quarter of those questioned said they accessed at least 20 password protected websites or applications during the course of the year, and almost half – 45 per cent – said they only change their passwords when they have to (i.e. after a forced reset, the sort of thing that follows a hacking incident).

Furthermore, 54 per cent of respondents said the failure of organisations to properly protect personal identities and data is going to result in the public distrusting online services more.

And with the continued proliferation of smartphones and tablets meaning an increasingly digitally connected world, 70 per cent of millennials said this would mean risks to their online safety would increase – 30 per cent felt the upsurge in risk would be a dramatic one.

Will all this distrust eventually lead to a decline in data sharing across the globe? 44 per cent of those surveyed felt this will happen eventually.

Richard Parris, chief executive of Intercede, commented: “It’s time for organisations to stop playing fast and loose with what, in a digital economy, are our most important assets – our identity and our data. There seems to have been a collective consensus that Millennials will accept sub-standard security in exchange for online services. This clearly isn’t the case.

“The humble password should be consigned to the dusty digital archives where it belongs. To restore trust, smart companies need to look to stronger authentication techniques to ensure the future of digital commerce and information exchange and their own competitive edge.”