Survey Says: Americans More Afraid of Identity Theft Than Murder. What Your Financial Institutions Can Do To Stop It
A recent survey by Atlas VPN is eyepopping. People are more afraid of identity theft than getting murdered, burglarized, or becoming a victim of terrorism.
And with the most recent numbers showing 7.9 billion private record data breaches in 2019, we can clearly see why.
Identity theft is on the rise. And it’s expanding at a frightening pace.
In 2018 there were a reported 5.9 billion records breaches (hacks and ID thefts), ballooning an astounding 33% in 2019. And by the end of 2020, some say we could reach upwards of 9, 10 or even 12 billion breaches.
This will cost individuals and banking institutions billions upon billions of dollars. But most, if not all, are preventable by using some simple tools.
Of the 1,526 respondents, here’s What Are Americans Most Afraid Of:
- Identity Theft: 67%
- Burglary: 43%
- Terrorism: 29%
- Murder: 20%
But even though these frauds are growing at an alarming rate, they can be stopped, even at the bank and financial institution level, where most Americans note the fraud is happening.
Where Americans Fear Fraud is Occurring:
- Total Financial Institution Fraud: 45%
- Credit Card Fraud: 32%
- Loan or Lease Fraud: 14%
- Phone scams: 11%
- Bank and Tax related Fraud: 13%
Americans are right. Fraud is rampant in financial and banking institutions. Why? Because that’s where the money is. But by preventing fraud at financial institutions, other related frauds crumble. The whole criminal house of cards crashes.
To prevent fraud at Banking and financial institution level, we must utilize technology the criminals don’t have. And the most proven solution is using real-time fraud detection and prevention tools like those provided by the world’s leading financial fraud prevention firm, ToolCASE.
The Denver based firm has been called “The World’s Most Advanced Transactional AI Company” and their suite of products have proven to help banks and financial institutions stop fraud, as it’s happening.
As fraudulent transactions grow to astounding levels, implementing real-time fraud prevention measures like ToolCASE can save banks, institutions, and individuals billions of dollars. And we can begin to put the criminals behind bars, where they belong.
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You Can Stop Fraud Before It Happens And Safeguard Your Retail Bank From Giant Losses
ToolCASE is the world’s most advanced transactional AI company. The retail banking industry’s preferred choice for real-time risk management and fraud detection. ToolCASE catches financial fraud as it’s happening, before the fraudsters can get away with it.
The ToolCASE suite of real-time fraud detection products can help you eliminate costly losses and boost your bank’s bottom line.
And regardless of the size of your institution, small, regional, or large, ToolCASE is here to help.
