NEW YORK (10/30/15)--Card fraud and identity theft continue to be the most common crimes reported over the past 12 months and the types most concerning to consumers, according to Gallup’s 2015 Crime Survey.
The survey, which polled 1,105 U.S. consumers Oct. 7-11, asked respondents if they had been a victim of nine different types of crimes, ranging from identity theft and card fraud to physical crimes such as assault.
The percentage of Americans--or someone in their households--who have been victimized by identify theft or credit card fraud fell to 42% from 47% in 2014. Consumer awareness of account monitoring and the need for more secure passwords, as well as security advances such as chip-card technology, shows promise of reducing fraud, Gallup noted.
While CUNA embraces such advancements in technology, it says technologies such as EMV chips and tokenization can only go so far in terms of shoring up the entirety of the payments network. CUNA believes merchants should be held to the same strict data security standards as financial institutions under the Gramm-Leach-Bliley Act. Furthermore, improved credit card security would not have prevented any of the major data breaches to befall stores such as Target and Home Depot in recent years.
Roughly 70 percent said they "frequently" or "occasionally" worry about hackers stealing their credit card information from stores they have visited, and the same percentage worry about being a victim of identity theft.
Additionally, the Gallup survey found that those who have been victims of card fraud in the past are more likely to fret about being victims again in the future.
More than half (53%) of Americans who have had information stolen at least once previously said they worry “frequently” about future crime. Of those who haven’t been victimized, only 29% said they worry about it frequently.