ID theft victims turn to banks first - survey

Source: Identity Theft Assistance Center

Itac, the Identity Theft Assistance Center, today released the findings of a survey showing the first step most consumers take upon learning, or suspecting, they are a victim is to contact their financial services company.

"The message for financial service companies is clear- your customers need you and turn to you first for help at an emotional time," said ITAC President Anne Wallace. "It's a moment that offers risk or reward, given the stakes of the competitive environment."

ITAC surveyed 1615 confirmed victims of identity theft helped by ITAC. The majority (65%) said the first thing they did was to contact their financial services company. Ten percent (10%) said they contacted the credit reporting bureaus. Seven percent (7%) contacted the police, and 2% checked their accounts online. Fourteen percent (14%) took different actions, including taking a call from their financial services company about suspicious activity concerning their account and contacting family members.

"No matter the source of the crime, identity theft usually lands at our door," said Robert Shiflet, Senior Vice President, Bank of America. "How well we handle it can make a big difference in the success of our relationship with that customer."

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