Inflation, dollar hyperinflation with black background. One dollar bill is sprayed in the hand of a man on a black background. The concept of decreasing purchasing power, inflation Credit/Adobe Stock

U.S. News & World Report released the results of its recent study on ID theft and its effect on people’s lives. The alarming statistics from this study are eye opening and highlight “financial loss” to consumers as a major concern, which has increased annually. These increased losses are compounded as consumers face a very tough economy, with many of them “living paycheck to paycheck.” Of those victims surveyed, 33% were victims of financial account takeover at least once, and 15% experienced losses beyond $1,000. Most Americans couldn’t handle this kind of loss.

Recent data breach events in our country, such as the HCA Healthcare breach and the MOVEit breach, have affected tens of millions of consumers and escalated subsequent ID theft threats nationwide.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.