Fraud containment is critical to industry profitability; 2004 credit card identity fraud crimes topped $19.8 billion, not counting operational and relationship-oriented costs. Using a rigorous, multi-level methodology, this research evaluates the top 39 U.S. issuers based on multiple safety criteria.
This report uncovers opportunities and highlights areas for improvement for credit card issuer programs to control the overwhelming costs associated with identity theft and fraud and to increase customer preference. Specific recommendations are provided for issuers to help prevent and detect identity fraud and to improve resolution capabilities for victims.
Issuers can utilize this report to:
- Increase account holders' safety and trust - Implement product differentiation based on security offerings - Improve customer loyalty and transaction volume - Reduce fraud and chargebacks
