More Reliable and Better Prepared: How Banks Are Perceived in Cybersecurity

The ‘Cybersecurity and Digital Channel Usage Habits’ survey, conducted by CECA, shows that the majority of users consult and perform banking operations digitally. Entities send communications with advice and warnings regarding potential fraud. Cyberattacks are a significant concern for the population. The Cybersecurity and Digital Channel Usage Habits survey, conducted by CECA in collaboration with Sigma Dos, has demonstrated that for 85.9% of respondents, the seriousness of this threat scores above 7 out of 10, with an average of 8.3. In other words, people are aware of the dangers arising from online transactions. However, only half believe they could be victims of such an attack. This means that 50% think cyberattacks are a danger, but that it won’t happen to them. Nevertheless, 6 out of 10 participants in the study acknowledge that they lack the adequate knowledge to face such situations. Despite this, only 65% of those who participated in the CECA survey (an association representing CaixaBank, Kutxabank, CajaSur Banco, ABANCA, Unicaja, Ibercaja Banco, Caixa Ontinyent, Colonya Pollença, and Cecabank, as well as over thirty foundations) believe they are taking sufficient protective measures. The most common measures implemented are updating devices (57%) and apps (50%), as well as activating antivirus (37%), while avoiding the use of public networks. TRUST IN BANKING Of the respondents, 4 out of 10 use banking digital channels daily; a number that rises to 9 out of 10 who consult them weekly. These channels are mainly used to check account balances or movements, as well as to make online purchases. Those under 30 primarily use them to make Bizum payments. This frequent use of digital channels is supported by a high level of user trust in the security offered by digital banking operations. Thus, 84% of respondents stated that they feel secure when operating with their digital bank. Compared to other digital service providers, banks are the entities that users trust the most in managing and protecting their data, followed by public administration. In this same ranking, social networks came in last position. HOW DO THEY PROTECT US? Banking data is very sensitive in the event of a cyberattack. Therefore, banking entities constantly strive to inform their clients about potential fraud. Among the initiatives, communications stand out that warn clients of the techniques used by cybercriminals and remind them of the security measures available to them. However, although 85% of participants in the CECA survey acknowledge receiving these messages, only 54% pay attention to them. Despite all these efforts by entities to inform about protective measures against cyberattacks, 20% of respondents mistakenly believe that their bank or savings bank can contact them and ask for keys and passwords through suspicious emails or fraudulent calls. This lack of awareness poses a significant risk, as these are the most commonly used methods by criminals. 73% of participants reported receiving suspicious contacts via email, SMS, or WhatsApp, 35% were contacted by strangers on social media, and 42% received false calls. As a precaution, it is essential to activate movement notifications or access using biometric data. In light of such situations, 78% of surveyed individuals feel that their banking entity cares about their security, and 3 out of 4 are satisfied with the cybersecurity measures adopted by the entities. Furthermore, victims of cyber fraud rate the attention received from their bank or savings bank in this situation positively. The combination of these factors leads users to consider banking entities as the best-prepared actors to face this problem. FOR ALL AGES Occasionally, the digital divide is cited as one of the major dangers faced by cybercriminals. However, the survey conducted by CECA in collaboration with Sigma Dos shows that 28% of young people aged 18 to 29 mistakenly believe that their bank can contact them through unofficial channels to ask for personal data. Moreover, young people pay the least attention to notifications issued by banking entities (33%) compared to those over 65, who are more attentive (67%). Digital natives, being familiar with technological advancements, have a 100% digital relationship with their bank, making their financial and digital education all the more critical to avoiding risks and fraud in online operations.