Data breaches are becoming more common, yet many consumers are not prepared for the worst. And even when they do happen to become victims, many do nothing about it.
A new study by CardRatings.com shows that consumers underestimate the likelihood they will become the victim of a security breach.
The study also shows that consumers are not taking the proper precautions to protect their personal financial information following a security attack.
Says CardRatings.com, “48.82 percent said they didn’t check their credit card statements and 45.69 percent [didn’t check] their bank accounts.”
Those who reported being a victim of a data breach said they took the following actions:
• Check credit card statement – 51.18%
• Check credit report – 45.29%
• Check bank account – 54.31%
• Stopped using credit card – 37.84%
• Stopped using debit card – 32.75%
• Signed up for credit monitoring – 24.31%
• Put a credit freeze in place – 24.12%