McAfee: Profound Shift in Everyday Technology Highlights New Landscape of Personal Security

Rhea-AI Summary

McAfee Corp. (Nasdaq: MCFE) released its 2021 Consumer Security Mindset Report, highlighting a continued embrace of digital life by U.S. consumers post-pandemic. Key findings reveal that 66% of respondents are concerned about cyber risks, particularly regarding financial data security. Despite 70% purchasing connected devices, only half acquired security software. Notably, 51% never considered the value of their online data. The report emphasizes the necessity for stronger cyber hygiene practices among consumers to combat rising cyber threats.

Positive

• 66% of U.S. consumers express concern about cyber threats, indicating potential demand for security solutions.
• 70% of respondents purchased at least one connected device, reflecting a growing market for cybersecurity products.

Negative

• Only 50% of consumers took action to buy security software despite increased online activity.
• 51% of respondents do not recognize the value of their personal data online, posing a risk for potential exploitation.

McAfee Corp. (Nasdaq: MCFE) today announced findings from its 2021 Consumer Security Mindset Report revealing that while the shift to a digital-first life was brought on by the global pandemic, U.S. consumers plan to keep it up – with online banking (61%), social engagements (56%), and personal shopping (52%), at the top of the list. With the increase in activities online, consumers are potentially exposed to more cyber threats. Notably, 2 out of 3 people in the U.S. (66%) say they’re concerned about today’s cyber risks, with 1 in 3 (29%) respondents admitting that they are not confident in their ability to prevent a cyber-attack.

As consumers continue to adapt to and embrace their new digital worlds, cyber criminals are taking note and looking to take advantage. The more time consumers spend online interacting with various applications and services, the greater their exposure to potential risks (such as third-party breaches) and threats (such as phishing attacks or fraud). Further proof that this is a big concern for consumers: McAfee found 71% of U.S. respondents admitted to being most concerned about their financial data being stolen and 68% were concerned that their personal information, such as birth dates or addresses, could get hacked.

“The first step in protecting ourselves is realizing that there’s a lot we can do to stay safe online and to preserve our digital wellness,” said Terry Hicks, EVP of McAfee’s Consumer Business. “It’s better to prevent a problem than be in a position of having to fix it. We can always work on our own safe online habits – from the apps we install, to the websites we click on, to the emails we open. Making this shift in our mindset and behaviors is a necessity in protecting what we value most- our privacy and identity- giving us all much needed peace of mind.”

Consumer Digital-First Mindset Influenced by Shopping Habits

Consumers’ buying habits indicate how they are going about their new digital-first lives, with 70% of respondents saying they’ve purchased at least one connected device in 2020, while 1 in 3 bought three connected devices. However, only 50% took action by purchasing security software, and only 1 in 4 admitted that they actually check if their security software is up to date.

Consumers are also becoming more comfortable with sharing information online which is a big risk – especially as services often ask for multiple contact points. Notably, McAfee’s report found that 77% of respondents indicated that they started using features designed for convenience in 2020, such as text and email notifications (47%), opt to stay logged in / remember user credentials (27%), and store & auto populate credit card details for faster check outs (24%).

In addition to not always taking the necessary security precautions, U.S. consumers admitted that they haven’t really thought about why hackers might want their data. Notably, over half of U.S. respondents (51%) admitted that they never considered how much their data that is stored and available online is worth. Hackers are always looking for ways to exploit others for money, and a person’s identity is valuable and can be resold for quite a bit of money. However, nearly 9 in 10 consumers say they would be proactive about protecting it, if that data could be traded as a currency.

Some ways consumers can protect themselves and their loved ones include:

• Use multi-factor authentication to double check the authenticity of digital users and add an additional layer of security to protect personal data and information.
• Connect with caution. If you have to conduct transactions on a public Wi-Fi connection use a virtual private network (VPN) like McAfee® Safe Connect to help keep you safe while you’re online.
• Browse with added security using a tool like McAfee WebAdvisor to block malware and phishing sites if you click on a malicious link.
• Protect your identity and important personal information by using McAfee Identity Theft Protection, which also helps you recover your information if your identity is compromised.

McAfee’s 2021 Consumer Security Mindset Report Methodology:

McAfee commissioned MSI-ACI to conduct an online questionnaire to 1,000 adults over the age of 18 in the U.S. between December 11-23, 2020.

This press release only includes data from the U.S. survey. Additional surveys were conducted in Canada, U.K., Germany, France, Spain, Australia, Singapore, India and Indonesia. Data for these regions can be requested via media contact below.

Additional Resources:

• Blog from Judith Bitterli

About McAfee

McAfee Corp. (Nasdaq: MCFE) is a leader in personal security for consumers. Focused on protecting people, not just devices, McAfee consumer solutions adapt to users’ needs in an always online world, empowering them to live securely through integrated, intuitive solutions that protects their families and communities with the right security at the right moment. For more information, please visit https://www.mcafee.com/consumer

McAfee technologies’ features and benefits depend on system configuration and may require enabled hardware, software, or service activation. No computer system can be absolutely secure. McAfee® and the McAfee logo are trademarks of McAfee, LLC or its subsidiaries in the United States and other countries. Other marks and brands may be claimed as the property of others.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210126005247/en/

FAQ

What does McAfee's 2021 Consumer Security Mindset Report reveal?

The report highlights that U.S. consumers are increasingly concerned about cyber risks, with 66% expressing worries and only half having purchased security software.

What percentage of U.S. consumers purchased connected devices in 2020 according to MCFE?

According to the report, 70% of U.S. consumers purchased at least one connected device in 2020.

What is the main concern of U.S. consumers regarding online security?

71% of U.S. consumers are most concerned about the theft of their financial data.

How can consumers improve their online security according to McAfee's report?

Consumers are advised to use multi-factor authentication, connect cautiously on public Wi-Fi, and regularly update their security software.

When was McAfee's Consumer Security Mindset Report conducted?

The report data was collected from December 11-23, 2020.