Just 9% of British respondents trust mobile phone companies and retailers to keep their data safe, according to a survey carried out on behalf of data security specialist GB Group.
The poll puts the industry close to the bottom of the league in an annual "trust" survey to gauge how customers perceived companies treated and respected their data, along with gambling companies and social networking sites.
The survey comes hot on the heels of MPs calling for an identity fraud tsar to be appointed to tackle the estimated £1.7 billion annual cost to the economy.
As a comparison, the survey revealed just under half (48%) of UK consumers don't trust their high street bank or building society to protect their personal details from identity thieves,
The research also suggests that consumers will vote with their feet unless organisations tighten up their online fraud safeguards - just under half (45%) of those polled are prepared to give up online shopping to avoid becoming a victim of identity fraud.
It is still the younger generation were increasingly turning to online sites to conduct business, with 40% of 18-25 year olds declaring themselves happy to use online technology in general. In contrast, only 19% of the 45-54 year old range were happy with online portals.
Rob Laurence, managing director of GB's fraud prevention business, said: "Identity fraud is a major issue for consumers and it's clear companies need to do much more to win their trust.
"The majority of adults in the UK have a bank or building society account, yet just half actually trust those organisations with their personal information. Well over 45 million people in the UK have a mobile phone, but less than one in ten of those polled trust their mobile company with their personal details.
"We have to ask ourselves why this is. Information security has been high on the agenda for over 4 years now - why do consumers still feel businesses do not do enough to stop fraudsters from getting hold of their personal information?
"Our research reveals that consumers are ultimately prepared to give up online banking and shopping to prevent identity fraudsters from getting hold of their data. As it is widely accepted that online fraud will continue to rise and fast, failure to protect could have dramatic consequences for business growth."
GB, which helps hundreds of organisations in the UK to prevent fraud, is calling for businesses to respond to consumer pressure on identity fraud protection.
Mr Laurence continued: "Essentially, businesses need to tackle identity fraud with the same vigour as they are already doing with environmental issues. If they don't, then it's highly likely that consumers will form pressure groups to get their voices heard.
"Demonstrating clearly to consumers the attention that is being paid to safeguarding them against identity fraud will go a long way in restoring faith."
YouGov ID fraud ‘trust' survey - key statistics:
Posted to the site on 11th March 2008
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