Survey: One-in-four global consumers hit by card fraud

Naples, Fla. – One-in-four global consumers has been victimized by card fraud in the past five years. According to a new study conducted by ACI Worldwide and Aite Group, the United Arab Emirates has the highest rate of credit, debit and prepaid card fraud overall at 44%, followed by China at 42% and India and the United States at 41% each.



Other findings include:



• 63% of global consumers (respondents) who have experienced fraud are more likely to use their cards less.

• 50% exhibit at least one risky behavior, which puts them at higher risk of financial fraud.

• 55% are “very concerned” about reclaiming financial identity if they fall victim to identity theft.

• More than one-in-10 have experienced fraud multiple times during the past five years.



“Given this latest data, financial institutions have their work cut out for them, both in terms of educational and preventative measures,” said Shirley Inscoe, senior analyst, Aite Group. “Consumers lack confidence in their bank’s ability to protect them from fraud, so banks must remain vigilant in their fraud migration efforts or face increased customer attrition.”