Business leaders and consumers share many common concerns, according to the Travelers Risk Index. The annual survey found that cyber risk is still considered one of the greatest risks facing both Americans and American businesses.
While American shoppers say they are very concerned about the safety of their personal information following the massive security breach at Target, many aren’t taking steps to ensure their data is secure. Just 37 percent of surveyed consumers have tried to use cash for purchases rather than pay with plastic, and only 41 percent have checked their credit reports. Even fewer have changed their online passwords at retailers’ websites, requested new credit or debit card numbers, or signed up for a credit monitoring service.
The identity theft rate for children is 51 times higher than the rate for adults, according to new research. These long-term frauds can be devastating to a child's future, as a preexisting bad credit score can make it difficult to secure student loans, housing or a job.
Nearly one in three victims of identity fraud chose to avoid specific merchants after falling victim to fraud, according to the 5th Annual LexisNexis True Cause of Fraud study, which found that between 10 and 14 million U.S. consumers are victims of identity fraud every year.
