ID Theft, Stolen Cards are Top Cybersecurity Concerns

10/06/21

Identity theft and stolen credit or debit card information are the top cybersecurity concerns for consumers, according to a new survey from OBL affiliate member CSI. The core processor partnered with The Harris Poll to survey more than 2,000 U.S. adults age 18 and above.

Eighty-five percent of respondents said cybersecurity concerns concerning their personal confidential data were their biggest concern, but the report noted the finding may reflect a possible shift in consumer perception of cyber risk. ‌ More than three in four consumers stated they believe their financial institution can protect their personal and payment information from hackers, and 48% said they would leave their institution if it suffered a data breach. 

The survey found that 60% who identified a big bank as their primary financial institution agreed that a breach would cause them to leave compared to 51% of community bank customers. ‌ The report also found that 30% of Americans said it is acceptable to use the same password for an online bank account that they use for other accounts, and 40% admitted they don't know how to protect themselves from cybercrime.

The survey was released during National Cybersecurity Awareness Month, an effort to raise awareness about the importance of cybersecurity across the nation, ensuring that all Americans have the resources they need to be safer and more secure online.