RiskTech Forum

Social Media Behaviors Put Consumers at Greater Risk for Identity Fraud

Posted: 28 February 2012  |  Source: Fiserv

The 2012 Identity Fraud Report: Social Media and Mobile Forming the New Fraud Frontier , released today by Javelin Strategy & Research (http://www.javelinstrategy.com), reports that in 2011 identity fraud increased by 13 percent. More than 11.6 million adults became a victim of identity fraud in the United States, while the dollar amount stolen held steady. The report also took the nation’s most comprehensive quantitative look at consumer behavior and fraud and found consumers’ social media and mobile behaviors may be putting them at greater risk.

Now in its ninth consecutive year, the comprehensive analysis of identity fraud trends is independently produced by Javelin Strategy & Research and made possible by Fiserv, Intersections Inc. and Wells Fargo & Company, companies dedicated to consumer fraud prevention and education. It is the nation’s longest-running study of identity fraud, with 42,951 respondents surveyed over the past nine years.

Identity fraud is defined as the unauthorized use of another person’s personal information to achieve illicit financial gain. In October 2011, Javelin Strategy & Research conducted an address-based survey of 5,022 U.S. consumers to identify important findings about the impact of fraud, uncover areas of progress, and identify areas in which consumers must exercise continued vigilance.

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