Print Page   |   Your Cart   |   Sign In   |   Request an Account
Site Search
Sign In


Forgot your password?

Haven't registered yet?

Latest News
Calendar
Latest News: General News

Credit, Debit Card Fraud Most Concerning to U.S. Citizens

Thursday, May 22, 2014   (0 Comments)
Posted by: Susan Dyer
Share |
A recent article in NewsNow reported that Americans are most worried about the safety and privacy of their credit card and debit card information, according to the 2014 Unisys Security Index*.

The survey reported that 59% of respondents said they were "extremely" or "very" concerned about someone stealing and using their credit or debit cards (a 7% jump from last year's poll).

Nearly 60% of those polled would be less likely to do business with a commonly used financial institution or store if a security breach involving their personal or credit card data occurred there.
 .
These concerns most likely result from recent data breaches and hacks, including the Target and Michael Store’s breaches and the Heart Bleed bug.

Despite these concerns, almost 40% reported that they would not likely change how they shopped or did business in response to a breach.  

The Credit Union National Association continues to work with federal lawmakers to develop legislation that would force merchants to abide by the same data security standards as credit unions and other financial institutions.

The survey revealed other areas of concern included identity theft (57 percent) and national security (47 percent).

To help keep your members save, encourage them to develop strong passwords. A few tips from Entrepreneur (includes link to infographic: How to Create the Perfect Password):

What are strong passwords?
  • They’re long (eight to 15 characters, a combo of uppercase and lowercase letters, numbers and symbols)
  • They’re complicated (contain made up phrases, and no complete words)
  • They’re changed every six to eight weeks.
  •  They are housed in a password manager app or program (search for password manager or keeper for lots of options)

*Based on a survey of 1,005 U.S. citizens.