Gartner: 7.5% of US Adults Victims of Financial Fraud

Posted by John B. Frank Wednesday, March 4, 2009

About 7.5 percent of U.S. adults lost money as a result of financial fraud last year, mostly due to data breaches, according to a new Gartner study released on last night.

In the survey of nearly 5,000 consumers, 70 percent said they had never been a victim of identity theft fraud. Meanwhile 14 percent said they had had their credit card information used to charge purchases or get money, 7 percent said their debit card was used, 6 percent said a new account had been opened in their name, 5 percent had money transferred out of their account, and 4 percent had had checks forged.

The study also looked at why people switch banks and concluded that security and financial health of a bank were of about equal importance to consumers, said Gartner analyst Avivah Litan.

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