Any new technology or application generates myth and legend as quickly as it attracts users and advocates. Electronic commerce is no exception, as shown by its principal myth about insecurity.
Visions of predatory hackers hovering in cyberspace to snatch, steal, and amend vital information or payment data fill the public imagination. One recent survey found that 65% of U.S. consumers believe it is unsafe to take part in electronic commerce. Another suggested that just 5% of Internet users would risk sending payment card details over open lines, though a majority trusted telephone banking and almost all believed that cash dispensers are secure.