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Security measures help reduce ID fraud despite increase in victims

New data from Javelin Strategy and Research in the US shows that internet security solutions are helping consumers avoid falling victim to ID theft and ultimately leading to a decline in ID fraud.

The data shows that the mean consumer costs of ID fraud fell by 31 per cent in 2008 in spite of the number of victims of ID fraud increased by 22 per cent during the same period.

The study, now in its fifth year, also showed that women were more likely to be victims of ID fraud than men in the last year.

According to James Van Dyke, president and founder of Javelin Strategy & Research, despite the fact that fraud is increasing, intervention measures are working.

"The good news is research shows consumers have more control than they may think and more of them are actively taking steps to protect themselves," he said.

He went on to say that financial industry operators had also "put stronger controls in place".

According to an Online Fraud Report from secure payment provider CyberSource, data theft from ecommerce platforms is the main concern of companies operating on the internet.

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