Identity Theft-Related Fraud Experiences by Type:
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Data for today’s episode is provided by Mercator Advisory Group’s Report: 2022 Fraud Experience PaymentsInsights: Payment Fraud – The Consumers’ Perspective
Identity Theft-Related Fraud Experiences by Type:
- 45% of respondents experienced account takeover fraud.
- 43% of respondents reported someone using their payment card to make purchases and/or send money.
- 35% of respondents experienced online shopping fraud.
- 18% of respondents experienced check fraud.
- 15% of respondents experienced tax identity fraud.
- 7% of respondents experienced biometric ID theft.
About Report
Mercator Advisory Group’s report, 2022 Fraud Experience PaymentsInsights: Payment Fraud – The Consumers’ Perspective, examines payment methods in relation to fraud, the dollar value of fraud incidents, types of fraud experiences, identity theft-related fraud, consumers’ experience with resolving fraud cases, as well as consumers’ attitudes, not only about fraud but also about the financial institutions they use for banking and bill paying services.
The report is based on the Fraud Experience PaymentsInsights survey administered in January 2022 to a nationally representative sample of 3,611 United States consumers, ages 18 years or older.
“Payment and identity-related fraud prevention can be achieved by building an alliance with consumers and learning from past fraud experiences so that financial institutions and merchants can continue to educate both themselves and their consumers on what patterns to look out for so that they can avoid becoming victims of fraud,” says Amy Dunckelmann, VP, Research Operations at Mercator Advisory Group.
