Boston, November 10, 2016 – With over 5 billion data records compromised in the past three years alone, it’s safe to say that criminals have more consumer data at their disposal now than ever before. In an ideal world, preventing the resultant fraud would be a shared responsibility of consumers, banks, and merchants. Unfortunately, while consumers give lip service to caring about fraud prevention and security, convenience trumps security when human nature takes over. What should bank and merchant fraud executives know about consumers’ security engagement when designing their fraud prevention and education strategies?
This research effort, sponsored by Visa, aims to understand how consumers are engaging in actual behaviors to help protect their identity and their financial security. It is based on a September 2016 Aite Group survey of 2,802 consumers in seven countries: Australia, Brazil, Canada, India, South Africa, Spain, and the United States.
This 28-page Impact Report contains 22 figures. Clients of Aite Group’s Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.