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Consumer reactions toward identity theft
Another data breach affecting millions of bank and credit card holders was reported on July 3 by Reuters. Fidelity National Information Services, an electronic-payment processor, revealed that a database administrator had stolen sensitive customer data, including names, addresses, phone numbers,...
Another data breach affecting millions of bank and credit card holders was reported on July 3 by Reuters. Fidelity National Information Services, an electronic-payment processor, revealed that a database administrator had stolen sensitive customer data, including names, addresses, phone numbers, birth dates, bank account and credit card information.
Unlike TJX, which announced it was hit by hackers earlier this year, the 2.2 million bank account records and 99,000 credit card records stolen from Fidelity were sold to a data broker who then sold the information to direct marketers. So far, the extent of the fallout has been customers being contacted by solicitors.
I asked four men and six women if they would continue to buy from or change their method of payment at a retailer linked to a data security breach. One man and two women responded that they would continue shopping at the store, but would more than likely pay with cash or a credit card instead of a bank card. The remaining seven respondents said their attitude toward shopping at the store wouldn't change at all. These consumers acknowledged the growing rate of identity theft and expressed confidence in the systems that are in place to right the wrongs on behalf of the victims.
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