Boston, October 29, 2014 – Identity theft can happen to anyone and can be personally devastating. Victims can spend months or years clearing up many forms of fraudulent activity only to be victimized again. Victims find very little to smile about as they contend with identity theft and the widespread lack of sensitivity to this serious crime, and many change their spending behavior and their financial institution as a result. What could financial institution executives do to improve the customer experience and help retain accounts and customers as a result?
This Impact Report is based on an online survey of identity theft victims who were assisted by the Identity Theft Resource Center between March 2013 and January 2014. It explores what identity theft victims experience when financial fraud occurs and how victims struggle to re-establish their financial reputation.
This 34-page Impact Report contains 27 figures and two tables. Clients of Aite Group's Fraud & AML service can download this report.