Consumers Spooked By ID Theft, Switch Banks - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

Consumers Spooked By ID Theft, Switch Banks

Research firm claims that identity theft, or more likely, the constant barrage of identity theft stories in the media, are eroding some consumers' confidence in their banks.

Identity theft, or more likely, the constant barrage of identity theft stories in the media, are eroding some consumers' confidence in their banks, a research firm said Friday.

Nearly 60 percent of U.S. consumers polled in January said they were worried about identity theft, said Sophie Louvel, a research analyst at Financial Insights. More surprising, about 6 percent admitted that they've switched banks in an attempt to reduce their risk of being the next victim.

"Identity theft incidents have been taking their toll on banks and their customer relationships," said Louvel in a statement.

Recent high-profile reports of data theft at ChoicePoint, LexisNexis, and Bank of America, among others, have been in the news of late.

"[That] may drive bank customers to worry further about the possibility of experiencing identity theft," added Louvel. "However, the survey results show that not all consumers worry equally about identity theft."

According to Financial Insights' data, Americans in the 44-64 age group worry most about identity theft.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
2021 State of ITOps and SecOps Report
2021 State of ITOps and SecOps Report
This new report from InformationWeek explores what we've learned over the past year, critical trends around ITOps and SecOps, and where leaders are focusing their time and efforts to support a growing digital economy. Download it today!
InformationWeek Is Getting an Upgrade!

Find out more about our plans to improve the look, functionality, and performance of the InformationWeek site in the coming months.

News
Becoming a Self-Taught Cybersecurity Pro
Jessica Davis, Senior Editor, Enterprise Apps,  6/9/2021
News
Ancestry's DevOps Strategy to Control Its CI/CD Pipeline
Joao-Pierre S. Ruth, Senior Writer,  6/4/2021
Slideshows
IT Leadership: 10 Ways to Unleash Enterprise Innovation
Lisa Morgan, Freelance Writer,  6/8/2021
Register for InformationWeek Newsletters
Video
Current Issue
Planning Your Digital Transformation Roadmap
Download this report to learn about the latest technologies and best practices or ensuring a successful transition from outdated business transformation tactics.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll