Most Data Breaches OccurOffline

ATLANTA - (05/18/06) – A new study of onlinetransaction found that 90% of all unauthorized access to sensitiveinformation, like credit or debit card PINs, is being conductedthrough non-electronic channels, such as a lost or stolen wallet.The study, conducted by CheckFree, Visa USA and Wells Fargo,recommends that consumers replace paper invoices, statements andchecks, which can be stolen from unsecured locations, such asmailboxes, with electronic versions in order to help preventidentity theft. The study also recommends that consumers monitorbank and credit union account activity through the phone, ATM orInternet to detect potentially fraudulent activity more quicklythan through paper statements. The survey was conducted in Decemberamong 2,230 consumers 18 years of age and older by the MarketingWorkshop and Harris Interactive.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER