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Card breach? Who cares

By Janna Herron · Bankrate.com
Wednesday, January 29, 2014
Posted: 1 pm ET

Data theft may be a common experience these days, but consumers aren't avoiding credit cards and debit cards, social media or online retailers.

A new poll from Ipsos/Reuters found that more than 3 in 5 Americans have had their personal data stolen. Only 38 percent had not experienced data theft.

Among the findings:

  • A third of Americans reported unauthorized charges on their debit or credit cards.
  • A quarter of them said their email had been hacked.
  • More than a fifth said a company reported that their financial information had been compromised.
  • And about 14 percent reported their social media account had been hacked.

Despite their data theft experience, 64 percent said they haven't stopped using their credit cards or debit cards because of it. And 63 percent still shop online.

More than two-thirds of the 8,308 Americans polled were Target shoppers and the survey was conducted just weeks after the Target data breach over the holidays was disclosed.

The retailer said in mid-December that 40 million debit and credit cards had been exposed in a hack that lasted from the day before Thanksgiving through Dec. 15. It later said personal data of up to 70 million individuals also had been compromised.

Neiman Marcus disclosed in January that 1.1 million debit and credit cards had been compromised in a separate breach.

On Monday, the Consumer Financial Protection Bureau released a consumer guide to help consumers protect themselves against data breaches.

It advises people to follow these steps:

  • Monitor accounts for unauthorized charges or debits.
  • Alert bank or card provider immediately if fraud is suspected.
  • Follow up with the bank or card provider and maintain records.
  • Avoid scams that ask for personal information via email or by phone.

Have you found fraudulent activity on your card? What tipped you off?

Follow me on Twitter: @JannaHerron.

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5 Comments
Jean
February 01, 2014 at 5:15 pm

What is the alternative?! Go to the ATM every other day? Anyway, I hate to shop. So, most of it is done online. But, I do check my transactions!

Harold Chanin
February 01, 2014 at 10:43 am

The enabler for card theft (costs over $80 billion/year from American consumers) is the design (JTC 1/SC-17) owner of this global, identity-based (since the 1920s) financial system, the ISO and IEC. Though in 2011 the U.S. Government granted the pivotal e-commerce technology to stop this theft the ANSI, the U.S. business representative on these international organizations, has no such interest.

cin
February 01, 2014 at 10:29 am

I think people are quite concerned with ID theft , but what is the alternative? Cash, of course, which most people simply don't have enough of or are cautious about carrying in their pockets.

Frances
February 01, 2014 at 5:41 am

Wasn't it actor Micheal Douglas's character "Gordon Gekko" ln the 1989 movie "Wall Street" who said "A fool and his money are lucky enough to get together in the first place....."

Samir
January 29, 2014 at 4:10 pm

The old adage is still alive and well--"a fool and his/her money are soon parted."

Be smart!

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