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Security.org Study Finds 29 Million Americans Plan to Protect Themselves From the Rise of Identity Theft and Credit Card Fraud

New IdentityTheft Scam

BROOKLYN, N.Y., June 09, 2020 (GLOBE NEWSWIRE) — Security.org (https://security.org) today released a new study, “Identity Theft and Credit Card Monitoring Consumer Shopping Study: 2020,” which finds 29 million Americans intend to purchase a monitoring service in the next 12 months.

Security.org’s study focuses on usage of and attitudes toward identity and credit card theft and fraud protection products, as incidents of hacks and cyberattacks rise.

Additional findings from the study include:

  • Nearly half of Americans (47 percent) have been victims of credit card fraud and 18 percent in the last year alone; 25 percent cost more than $1,000, while most report getting their money back.
  • Nearly one in four Americans (23 percent) have been victims of identity theft and seven percent have been victimized in the past year; half of cases the victim loses money and 45 percent of those cases it is for more than $1,000 and just over half of the time (62 percent) victims get their money back.
  • Fourteen percent of Americans are interested in subscribing to a monitoring service in the next 12 months; this totals 29 million U.S. adults and potential of $2.9 billion in annual revenue, assuming an average of $100 per year.
  • Identity theft and credit card fraud victims are three and a half times more likely to subscribe to a monitoring service

“The protection of our sensitive, financial and personal information is critically important,” said Gabe Turner, Security.org’s director of content.  “While I applaud the growing number of Americans with an intent to further safeguard their social and financial interests with identity theft and credit monitoring services, I hope to see an even bigger increase as more individuals see the usefulness of these options before they become victims themselves.”

Security.org’s “Identity Theft and Credit Card Monitoring Consumer Shopping Study: 2020” is available at https://www.security.org/resources/identity-credit-monitoring-consumer-shopping-report/. The research is based on a survey of 500 American household decisionmakers asking a set of detailed questions about their experiences with credit card monitoring and identity theft products.

About Security.org
Security.org reviews the newest technologies, products and services available to secure our digital and physical lives. We cut through the clutter and confusion to provider actionable advice and recommendations. Security.org’s research team focuses on the issues surrounding home safety, digital safety and identity theft. What it means to be safe has expanded beyond just home security, including protecting our personal and financial data and digital footprint.  We study the issues facing modern society and partner with organizations and research institutions to broader America’s understanding and awareness of digital safety.  Learn more by visiting us at https://security.org or watching us at https://www.youtube.com/securitydotorg.

Contact:
Steve Stratz
for Security.org
206.300.9134
s[email protected]

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Source: on 2020-06-09 08:56:15

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