Security News > 2020 > May > Is the stress of card fraud worth the digital convenience?

The survey talked to 4,000 consumers across the United States and the United Kingdom about consumer attitudes toward card fraud in an increasingly digital economy.

46 percent of US consumers surveyed had fallen victim to card fraud in the past, with 20 percent of consumers hit inside the last 12 months.

While increasingly common, consumers were reluctant to accept fraud as a fair cost for their increasingly online existences: 69 percent said the stress of card fraud wasn't a fair trade-off for digital conveniences, while 59 percent said that they didn't see it as a built-in part of the modern economy.

The growing threat of card fraud, with people either impacted or likely knowing someone who has, is becoming a major point of anxiety for consumers: 55 percent of US consumers said they worried regularly about card fraud, with 21 percent of people saying they worried about security every time they entered their details online.

More than half of all fraudulent transactions reported in the survey took place within half an hour of a card going missing, but less than a third of consumers said they noticed immediately when their card was stolen, and less than half canceled their cards right away.

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