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Identity Theft Fears most US Citizens

May 23rd, 2005

Despite a recent push in identity theft prevention awareness by major organizations and government agencies, 75 percent of US citizens believe that their identity is no more secure than one year ago. Consumers do not believe current and traditional methods of security are good enough to protect them against identity theft.

A recent survey, commissioned by Intervoice, finds that most Americans believe that technology puts them at the greatest risk for identity theft. Though, more than 60 percent of consumers are not limiting their use of technology related services in order to minimize the risk.

Key findings of the survey are: Technology causes the most concern about identity theft, more so than person-to-person interactions, such as dealing with store employees, 20 percent have stopped making purchases via telephone in order to mitigate the problem of identity theft, over 40 percent of individuals in the U.S. would be willing to use national identification card as their primary means of protecting themselves from identity theft and 81 percent of consumers believed that they are personally responsible to protect themselves against identity theft.

“As identity theft is a significant cost threat to banks, exercising vigilance is critical to protecting funds and identities of customers,” said Kenneth Newman, Vice President of Security at American Savings Bank in Hawaii. “Safeguarding customer data has become a priority to ensure that our customer´s identities are as secure as possible.”

“Identity theft has been a growing concern for both our customers and their customers. This data proves that more must be done to protect the global consumer´s transactions whether they be in-person, over the phone or online,” said George Platt, Senior Vice President and General Manager, Enterprise Business Unit, at Intervoice. “New security options and technologies will help prevent this form of crime and ease the consumer´s anxiety.”

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