Identity Theft Remains a Concern for Bank Customers Amid Economic Slowdown.A Secure Identity Systems survey found that 54 percent of bank customers who expressed concern about their bank are worried about the safety of their money and the risk of identity theft
BRENTWOOD Brentwood, city and district, England
Brentwood, city (1991 pop. 51,212) and district, Essex, SE England. Brentwood is mainly residential but produces some agricultural equipment, film, and prefabricated concrete. , Tenn. -- As the Red Flag deadline draws near for financial institutions to develop identity theft protection programs, the results of a new consumer survey conducted by Harris Interactive Harris Interactive (NASDAQ: HPOL) is an American market research company that specializes in public opinion research using both telephone and surveys on online panels. The company is the product of a 1996 merger between the Gordon S. Black Company and Louis Harris & Associates. [R] for Secure Identity Systems found that more than half of bank customers worried about the current state of their bank are concerned that their money and identity are not safe. The survey polled 2,212 U.S. adults ages 18 and up on the topics of banking and identity theft.
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3. the survey, bank customers with concerns regarding financial institutions are more worried about identity theft than other banking issues, such as bank fees or financial reimbursement Reimbursement
Payment made to someone for out-of-pocket expenses has incurred. if their bank fails. Among adults who have worries about their bank or financial institution:
* 40 percent are worried that they might be subject to identity theft.
* 39 percent are worried that their bank might fail given the current financial crisis.
* 32 percent feel their bank charges fees that are too high.
* 31 percent are concerned that they will not be reimbursed should their bank fail.
The consumer poll also revealed that one-third (35 percent) of bank customers are only somewhat or not at all confident that their personal information is secure at their bank or financial institution. When it comes to customer loyalty to their bank, 57 percent of bank customers surveyed would be at least somewhat likely to switch to another bank if it offered free identity theft protection services, more so even than lower account fees (52 percent). One-fourth (26 percent) of bank customers indicated that they would likely make the switch for free identity theft protection. Other incentives that would make bank customers likely to switch banks include:
* a $100 deposit in their account (28 percent)
* lower account fees (23 percent)
* a digital camera (12 percent)
* a raffle entry for a free vacation (6 percent)
"This is a tumultuous time for many financial institutions throughout the country, but it's it's
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it's be ~have important for banks to recognize the concerns of their customers," says Bryan Ansley, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Secure Identity Systems. "The results of our research show that identity theft continues to be an important issue for consumers, even during the strain of the current economic conditions. Bank customers want security for their money and their personal information. We hope that banks will take the necessary steps to meet the Red Flag compliances so that they can offer customers more safeguards and reduce the risks of fraud."
Secure Identity Systems is the only company in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. to offer financial institutions a complete, end-to-end solution (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved.
Compare: turn-key solution. for Red Flag compliance. For more information about Secure Identity Systems' array of ID fraud protection services, including New Account Authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC.
(2) Verifying the identity of a user logging into a network. , Anti-phishing Detection and Take-down, and mConfirm Authentication, visit www.SecureIdentitySystems.com.
ABOUT THE SURVEY
This Banking and Identity Theft survey was conducted online for Secure Identity Systems by Harris Interactive between Oct. 8 and 10, 2008, among 2,212 U.S. adults, of whom 2,166 use a bank or financial institution. These online surveys are not based on probability samples and therefore no estimates of theoretical sampling error can be calculated. A full methodology is available.
ABOUT HARRIS INTERACTIVE
Harris Interactive is a global leader in custom market research. With a long and rich history in multimodal Two or more modes of operation. The term is used to refer to a myriad of functions and conditions in which two or more different methods, processes or forms of delivery are used. On the Web, it refers to asking for something one way and receiving the answer another; for example requesting research that is powered by our science and technology, we assist clients in achieving business results. Harris Interactive serves clients globally through our North American North American
named after North America.
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emanating from or pertaining to Europe.
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see cryptococcosis. , and Asian offices and a network of independent market research firms. For more information, please visit www.HarrisInteractive.com.
ABOUT SECURE IDENTITY SYSTEMS
Secure Identity Systems is the leading provider of fully managed, total identity theft protection systems that safeguard financial institutions, businesses, individuals, and households. For more information, visit http://SecureIdentitySystems.com/.