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.â€
Study findings:
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%