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Despite Fraud Awareness, Password Reuse Persists for Half of U.S. Consumers

One-third of respondents in a new poll said that have been a victim of fraud or identity theft in the past.

As National Fraud Day approaches (Nov. 11), it remains clear that more consumer education is required when it comes to thwarting scammers and identity thieves. Despite almost half of U.S. consumers (49 percent) believing their security habits make them vulnerable to information fraud or identity theft, 51 percent admit to reusing passwords/PINs across multiple accounts such as email, computer log in, phone passcode and bank accounts.

Even so, nearly three in 10 of polled consumers (27 percent) said that they don’t know how to find out if they’ve become a victim; and one in five consumers (20 percent) admit that if they became a victim of fraud, they wouldn’t necessarily know how to report it.

And finally, the study also found people generally don’t trust companies to keep their personal information safe. Forty-three percent of consumers believe the personal information they share with brands and companies today could be vulnerable to a security breach. And another 40 percent said they would stop doing business with a brand or company if they previously suffered a security breach.

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