Card Data Theft Remains Top Concern for US Consumers
According to a recent survey by Capco, the fraud types that most concern US consumers are card and card data theft (46%), identity theft (44%), purchases they did not make (40%) and account takeover (35%).
Almost half of the survey respondents (49%) said they had experienced attempted payment fraud over the past two years, most notably in the form of purchases they did not make (45%); other fraud types included phishing (36%), card or card data theft (33%), fake online stores (27%), push payment fraud (26%) and account takeover (25%).
Nine out of ten respondents remain either very confident (53%) or somewhat confident (37%) that their primary financial institution will protect them. However, with fraudsters and cybercriminals turning to AI to enable their exploits, consumers worry that accounts are becoming more vulnerable.
A majority (69%) of respondents are concerned about ‘deep fake’ technology’s impact on voice biometrics and facial ID: 24% consider them ‘not entirely secure’, 6% feel these authentication methods are now ‘insecure’, while 39% worry they will come ‘under future threat’. 89% of respondents worry that online personal data could make impersonation easier or reveal answers to security questions.
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