Perceptions of Risk in Mobile Transaction

Mobile users are unlikely to guard against information security risks that do not come to mind in typical situations. As more people conduct sensitive transactions through mobile devices, what risks do they perceive? To inform the design of mobile applications we present a user study of perceived risk for information technology workers accessing company data, consumers using mobile personal banking, and doctors accessing medical records. Shoulder surfing and network snooping were the most commonly cited classes of risk, and perceived risk was influenced by the surrounding environment and source of information. However, overall risk awareness was low. The possible risks of device theft and loss, hacking, malware and data stored on devices were not prominent concerns. The study also revealed differences in the way the groups think about network-related threats. Based on these results, we suggest research directions for effective protection of sensitive data in mobile environments.