EZShield Fraud Protection partners to help Financial Institutions serve their customers.
With the Target breach still on our minds, and the ongoing news of hacks and data breaches exposing the personal information of thousands—and even millions—there continues to be uneasiness amongst consumers. Anxiety, compounded by a lack of clarity, about what consumers can do to better protect their data and identities.
The reality is that consumers trust and look to their financial institution as the primary source for this protection.
In fact, 44% of consumers continue to look to their Financial Institution to protect them from fraud according to the 2013 Identity Protection Scorecard recently released by Javelin Strategy & Research.
Additionally, the latest report to hit the Internet from the Bureau of Justice Statistics (BJS), Victims of Identity Theft, 2012, is full of scary statistics. For example, financial losses due to personal identity theft in 2012 were $10 billion more than losses attributed to all other property crimes. And 7 percent of all persons age 16 and older experienced at least one incident of identity theft in 2012.
A couple of other statistics reinforce the important and positive role that Financial Institutions need to play in the fight against identity crimes:
- In the event of an identity crime incident, a victim will turn to their financial institution over going to the police.
- The most common way a victim discovered an identity theft incident was when their financial institution contacted them about suspicious activity on their account.
Given the importance of consumer fraud solutions, EZShield has provided fraud protection services since 2001. As the 2013 recipient of the Javelin Scorecard “Best in Class” award for Identity Protection, EZShield focuses on securing, monitoring, and restoring the identities of customers, not just for identity theft, but for all types of fraud.
EZShield will work with you to help combat the challenges facing your financial institution to provide services that offer genuine value and convenience and ease-of-use for your account holders.
So what are you doing to help protect your account holders? Not just from fraud within your financial institution, but to assist them with protecting their identity?
Don’t let any of the bad press around identity protection stop you from providing the peace of mind your account holders deserve. There are simple ways to deliver these value-added services in a compliant manner, and EZShield can help you develop the right program for you and your account holders.
For a summary of the BJS report click here.