In response to numerous cyberattacks and data breaches affecting major organizations, consumers have shown a shift in digital trust. According to an Experian report, more than 52% of consumers feel like they’re more likely to be an online fraud target than they were a year ago. Additionally, 32% of consumers report being “very concerned” with online security.
Concern over identity theft is highest within adults between 55 and 69, with 85% reporting concern in comparison to 52% of respondents between 18 and 39. On the business side, 75% of organizations report confidence in their ability to protect against all kinds of fraud. Additionally, nearly 70% report that fraud losses have increased in recent years.