Two-thirds of US adults would consider switching banks after ATM breach

Source: Level Four

A recent survey of 2,175 US adults by Harris Interactive found that 67 per cent would consider switching to another bank if their primary financial institution suffered an instance of ATM fraud or data breach.

The survey was conducted online within the United States by Harris Interactive on behalf of Level Four Americas between the 1st and 5th August 2008 among 2,175 U.S. adults aged 18+, of whom 1,945 have a primary financial institution which has ATMs.

"With cases of ATM fraud steadily on the increase, financial institutions require solutions that enable them to quickly identify and mitigate fraudulent activity at the ATM," said Steven Lund, president of Level Four Americas, LLC.  "Because consumers rely on financial institutions to safeguard their privacy, allowing fraud to occur at any level is unacceptable. Investments in technology solutions that assist financial institutions in the elimination of security breaches pay for themselves many times over."

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