Bank of America Corp., JPMorgan Chase & Co., Washington Mutual Inc., and Marshall & Ilsley Corp. do the best job among financial companies in protecting customers from identity theft, according to a report from Javelin Strategy & Research.
The Pleasanton, Calif., research company said that the banking industry has made strides in preventing identity theft, and singled out these four companies.
Javelin's third annual report, released Tuesday, rated 24 U.S. financial companies; it said that they account for 60% of the national banking market.
Bank of America, of Charlotte, had the highest overall rating. M&I, of Milwaukee, had the top prevention score. JPMorgan Chase, of New York, had the top detection score, and Wamu, of Seattle, had the top resolution score.
"Financial institutions have improved significantly in giving consumers the tools they need to detect fraud on their own. Prevention is the next area in which financial institutions should focus their efforts," James Van Dyke, Javelin's president, said in a press release.
