According to a recent survey conducted by TransUnion, only 15% of Americans feel they have the tools needed to protect their data. Also, the survey found that more than 50% of the survey respondents think they are vulnerable to identity theft and credit card fraud with more than 75% of respondents acknowledging that they know someone who has been affected by a fraud or data breach.
This survey also comes right off the heels of the TransUnion announcement of their recently launched an app called myTransUnion. This mobile app according to the announcement allows customers to quickly and easily freeze and unfreeze their credit reports for free in a matter of seconds. This feature will help consumers take advantage of the free fries law that goes into effect on September 21st, 2018,
When asked about the survey findings John Danaher, President of Consumer Interactivity at TransUnion has this to say, “As personal data protection becomes an increasingly growing concern, we are more passionate than ever about encouraging consumers to take action. That’s why we are continually building our portfolio of tools to help prevent fraud and data breach.”
Fraud and identity theft continues to be a hot topic for 2018. Many financial institutions have already begun to implement Solutions that will help give consumers the tools that they need to help protect their financial data. However with this cat and mouse game that fraudsters play financial institutions will need to be ever vigilant to ensure that their client’s data is well protected.