FRAMINGHAM, Mass. - Local think firm Financial Insights' latest survey finds that identity theft incidents have been taking a toll on financial institutions and their member relationships. According to the survey, some 60% of consumers are concerned about identity theft and such concerns have prompted close to 6% of those surveyed to switch financial institutions. Based on survey results, financial institutions that are proactive with helping those who have become victims regain their financial reputation and thwart future fraud attempts can not only prevent the loss of members due to identity theft but also regain their trust. Listed below are more survey findings:
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From the April-20, 2005 issue of Credit Union Times Magazine • Subscribe!
Identity Theft Repercussions for Financial Institutions
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