Survey: Credit and Debit Card Fraud Tops American Security Concerns

A large number of Americans are concerned that they could fall victim to debit card or credit card fraud amidst waves of cyber security attacks in the country, …

A large number of Americans are concerned that they could fall victim to debit card or credit card fraud amidst waves of cyber security attacks in the country, according to the Unisys Security Index released this week. A series of retail and banking security breaches in the recent past has heightened their fears, the research firm said.

This year, 59% of U.S. respondents are seriously concerned about other people obtaining and using their credit or debit card details, jumping from 52% in 2013, according to the report based on a survey of 1,005 Americans. About 57% of Americans are seriously concerned about identity theft, and 47% are seriously concerned about national security in relation to war or terrorism.

Nearly 60% of Americans surveyed say that a security breach at the bank or store where they shop would make them wary of using their cards, while 40% said they would not change how they shop despite the security breach.

Dave Frymier, chief information security officer at Unisys, stated that organizations could ignore the risk of data breaches only at their own peril. “In today’s hyper-connected world, people are wary of losing their financial and personal data to cybercrime, and it is crucial that businesses review and enhance their security measures on a continuous basis,” Frymier added.

Of the respondents, Americans with an annual income of $50,000 or less had the highest levels of concern about credit/debit card fraud and identity theft, with more than 60% being extremely or very concerned.

On a scale of zero to 300, the overall U.S. Unisys Security Index scored at 123, a moderate level of concern. While the overall index has increased slightly from 2013, the last two surveys registered the lowest level of concern since the benchmark survey was inaugurated, after peaking in 2011.

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