More than one in four bank customers have experienced fraudulent activity on their accounts in the past 12 months, according to a new survey on U.S. financial protection satisfaction by J.D. Power. The survey also found customers value banks that help them resolve fraud-related problems.
Roughly 29% of bank customers and 22% of credit card customers have experienced some form of financial fraud in the past 12 months, with many experiencing more than one instance of fraud in that period, according to the survey. Among bank customers under age 40, 42% have experienced some form of checking, savings or debit fraud in the past year.
Forty-six percent of bank customers and 49% of credit card customers said they have a more positive impression of their bank or credit card issuer after experiencing an instance of fraud, with 92% of bank customers saying they are likely to reuse their bank after experiencing a fraud issue and having it resolved.
More than one-fourth (26%) of bank customers and 31% of credit card customers said they have not taken any recent measures to secure their accounts. Among bank customers, 46% said they’ve been prompted by their bank to act on fraud prevention measures in the past 90 days. That figure was 40% among credit card customers.
