87% of people 'concerned about sharing their financial data with companies'

Seven in 10 (71%) people actively avoid creating new accounts with companies due to worries about sharing their personal data, a survey has found.

Two-thirds (66%) of 16-to-24-year-olds limit starting new accounts due to data worries, with anxiety peaking among the 55-plus age group - 81% of whom curb the number of accounts they open.

Over half (52%) of people admit they are not confident about how much data they are sharing online.

The research, from data analysts Mintel, found 87% of people are concerned about sharing financial data such as credit cards with companies.

Meanwhile, 85% are nervous about the security of their email content and nearly three-quarters (73%) worry about the security of their web browsing history.

Giving away their location is a big concern for young people, with 73% of 16-to-24-year-olds saying so, compared with 69% of adults overall, the survey of 2,000 internet users found.

Adrian Reynolds, senior technology analyst at Mintel, said: "The increasing use of connected devices to access websites and apps is producing a wealth of personal data sharing, making it very difficult for consumers to keep track.

"For many, limiting further exposure is their preferred option.

"Even young people, while more willing to create new accounts with companies, are sufficiently concerned about data sharing and most are limiting new account creation."

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