A January 2015 survey of likely Minnesota voters revealed over a third of them had a credit or debit card replaced because of fraud or a data breach.
The Minnesota Credit Union Network commissioned the survey, held by Fluence Media, a public relations firm, and American Strategies, a Washington, D.C.–based consulting and polling firm.
The survey of 500 Minnesotans found that 42% of Minnesotans under age 50 had a credit or debit card replaced due to fraud or a data breach, and 28% of Minnesotans over age 50 had as well. The survey also found college-educated Minnesotans were more likely to have cards replaced due to fraud or a breach than non-college educated ones did, though MnCUN did not reveal those numbers.
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"The costs of data breaches and card replacements place a major burden on credit unions and other financial institutions," said MnCUN President & CEO Mark Cummins. "We should update our laws and regulations to hold retailers accountable for data breaches that impact customers and violate the level of trust consumers have."
The survey found consumers apportioned blame for the data breaches pretty widely. Thirty-six percent said stores were responsible for the data breaches and 17% said banks or credit unions were responsible. Internet providers and credit card companies each drew blame from 13% of respondents, 14% said they did not know who to blame and 7% said someone else was at fault.
However, if retailers were found to be at fault for a breach, survey respondents said 59% to 28% that they should pay to replace compromised debit or credit cards, while 12% responded they didn't know whether retailers should have to pay.
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