Inflation, dollar hyperinflation with black background. One dollar bill is sprayed in the hand of a man on a black background. The concept of decreasing purchasing power, inflation Credit/Adobe Stock

U.S. News & World Report released the results of its recent study on ID theft and its effect on people's lives. The alarming statistics from this study are eye opening and highlight "financial loss" to consumers as a major concern, which has increased annually. These increased losses are compounded as consumers face a very tough economy, with many of them "living paycheck to paycheck." Of those victims surveyed, 33% were victims of financial account takeover at least once, and 15% experienced losses beyond $1,000. Most Americans couldn't handle this kind of loss.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.