Global Consumers: Concerned and Willing to Engage in the Battle Against Fraud
Report Summary
Global Consumers: Concerned and Willing to Engage in the Battle Against Fraud
Merchants and financial institutions must help consumers understand how they can protect themselves against fraud.
Boston, July 22, 2014 – Global consumers are overwhelmed and disheartened by news of data breaches, hacking attacks, and fraud activity. They doubt that retailers, websites, or restaurants can adequately protect their personal and financial data, and they lack faith in law enforcement's ability to help. Consumers are resilient enough to go to battle for their own financial safety, however, and are seeking allies for the fight. If consumers can find faith in their financial institutions, will financial institutions be willing to arm their customers? And what weapons should financial institutions choose?
Based on a Q1 2014 ACI Worldwide study of 6,159 consumers in 20 countries, this Aite Group Impact Report provides an overview of respondents' attitudes toward various types of financial fraud and discusses the ways in which financial institutions and merchants can work with consumers to combat fraud. It is the second in a two-part series on how financial fraud affects consumers—find the first here.
This 44-page Impact Report contains 48 figures. Clients of Aite Group's Fraud & AML service can download this report.