|
|
 |
|
Viewing report
|
|
 |
 |
Online Banking In the Face of Fraud: Consumers Continue to Expand Activity
Javelin Strategy & Research, Aug 2005, Pages: 4
Has online banking activity slowed due to phishing and other identity fraud?
Financial institutions have been faced with the potential for consumers' decreased usage of the online channel due to concern over identity fraud and the perception that online banking is unsafe. Banks must understand the actions that consumers are taking and evolve their online strategies to deal with heightened awareness and fear of identity fraud.
Primary Questions
- How has consumer online banking transaction activity changed in the past year? - How are patterns of online banking activity changing among various demographic groups? - What are average fraud losses discovered through online monitoring vs. paper monitoring? - What protective action are consumers taking in the face of identity fraud concerns?
Major Findings:
Consumers are taking action against identity fraud by increasing online monitoring of accounts, rather than by decreasing online banking transactions. From March 2004 to March 2005, in the face of continually evolving phishing and other identity theft problems, only 5% of online consumers indicated that their online banking transactions decreased. Nearly four times as many indicated an increase. Over this same time period, 32% of consumers increased the online monitoring of their accounts, 21% increased the monitoring of their credit ratings or status and, in contrast, only 4% decreased either activity.
Customers who bought this item also bought
2007 Identity Fraud Survey Report: Identity Fraud Is Dropping, Continued Vigilance Necessary
2009 Identity Fraud Survey Report: Identity Fraud on the Rise But Consumer Costs Plummet as Protections Increase
The Identity Fraud Economic Divide: Reduce Consumer Losses by Customizing Protection Efforts to Income Levels
2008 Identity Fraud Forecast: Fraud Techniques will Evolve in Tandem with Industry Defenses
Online Banking Safety Scorecard: Banks Must Add Prevention and Detection Mechanisms to Reduce Identity Fraud
2008 Identity Fraud Survey Report: Identity Fraud Continues to Decline, But Criminals More Effective at Using all Channels
Consumer Attitudes to Online Current Accounts
Privacy and Security: Fraud, Identity Theft, Phishing, Viruses and Other Threats
Fraud in Accounts Payable: How to Prevent It
2005 Identity Fraud Survey Report
Credit Monitoring and Identity Fraud Insurance: What Do Consumers Need, and How Should It Be Offered?
2006 Identity Fraud Survey Report
|
 |
|
|