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Report: Card Fraud Biggest Security Concern for U.S. Consumers

Card fraud and identity theft were cited as the biggest security concerns by Americans in the 2014 Unisys Security Index.

After data breaches hit major retailers at the end of last year, Americans are growing more concerned about credit and debit card fraud, according to the 2014 Unisys Security Index. The consumer survey found that 59% of American consumers are “extremely” or “very” concerned about having their card data stolen, an increase of 7% since last year. Identity theft followed close behind with 57% of the 1,005 American respondents calling it a major concern.

For More on Data Breaches and Security: [Breaking Down the Impact of the Target Breach]

Respondents also said that having their card data stolen from a data breach would likely change their banking and shopping behavior. More than half (60%) of the respondents said they would switch banks or stop going to a retailer if their card credentials were stolen in a breach, showing that suffering a breach can have real business consequences, as Target has already found out.

Over one-third (37%) of the U.S. respondents called themselves “extremely” or “very” concerned about the safety of shopping or banking online, and about the same number (36%) expressed the same concern about the threat of malware and viruses infecting their computers.

Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio

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