ID Fraud Drops for First Time Since 2010
Identity fraud reported by U.S. consumers dropped 3 percent in 2014, according to Javelin Strategy & Research’s just-released report, 2015 Identity Fraud: Protecting Vulnerable Populations. The report, now in its 11th year, is based on a survey of 5,000 U.S. consumers conducted last October.
But while this decrease may sound promising at first glance – it’s the first decline in ID fraud reported among American consumers since 2010 – a decline of 3 percent is disappointing, says Al Pascual, director of fraud and security at Javelin. Given all of the breach-prevention and security technology investments U.S. businesses have made in the past year, including improvements in authentication, the year-over-year decrease should have been much greater, he contends in an interview with Information Security Media Group.