MCLEAN, Va., Nov. 20, 2018 /PRNewswire/ -- According to
the 2018 CreditWise® from Capital One® Holiday Shopping Survey, 85
percent of those U.S. consumers surveyed believe the holidays are a
riskier time to shop. More than a third of survey respondents (37
percent) also said identity theft and financial fraud is their No.
1 concern about shopping during the holiday season, ahead of their
fear of spending too much. The survey also found that 1 in 4 (26
percent) believe Cyber Monday is a riskier day to shop online than
any other day of the year.
Despite those fears, only 17 percent took more action during the
holidays in 2017 to protect their credit or prevent fraud, with
millennials being twice as likely to act than other age groups
during the holidays.
"Ahead of this holiday season, Capital One wanted to understand
what really keeps consumers up at night when it comes to holiday
spending," said Joe Whitchurch, Head
of CreditWise at Capital One. "We found that identity theft and
fraud is a top concern for consumers as they prepare for both Black
Friday and Cyber Monday. In fact, according to our survey, more
than half of the respondents (62 percent) who know a victim or were
themselves a victim of fraud said they could use more help in
keeping tabs on their personal information. The good news is they
can start simply by downloading the CreditWise app to take control
of their personal information and quickly detect fraud for
free."
Additional findings from the study include:
- 41 percent of U.S. consumers surveyed have experienced or know
someone who has experienced fraud during the holiday season,
primarily as a result of credit card fraud (48 percent) and
identity theft (33 percent).
- 16 percent of survey respondents say they are more worried than
they were last year about identity theft and financial fraud.
- Millennials are twice as likely than other age groups to take
action to protect their credit scores or prevent fraud during the
holidays.
- Millennials are also more likely to know someone or have
themselves been a victim of identity fraud than the older age
groups during the holidays.
- 75 percent of respondents who know a victim or were themselves
a victim of fraud want to understand how to detect credit
fraud.
In 2018, CreditWise from Capital One launched three new tools to
help users quickly detect fraud for free. The tools feature a
Social Security Number (SSN) Tracker, Dual Bureau Credit Alerts
from Experian® and TransUnion® and Dark Web Surveillance. The
surveillance tool scans the dark web, including thousands of unsafe
sites, hacking forums and illegal digital marketplaces, and alerts
users if it finds users' social security number or email address so
they can take action. Since launching these new features,
CreditWise has uncovered 1.5 million email addresses on the dark
web, and the surveillance alerts have maintained over a 90 percent
helpfulness rating from users.
With tools like CreditWise, Capital One is committed to building
simple, human-centered, data-driven tools to help people easily
detect fraud for free so that they can live their best financial
lives. To learn more about CreditWise from Capital One, visit
creditwise.com or download in the App Store or Google Play
Store.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a
financial holding company whose subsidiaries, which include Capital
One, N.A., and Capital One Bank (USA), N.A., had $247.2
billion in deposits and $362.9
billion in total assets as of September 30, 2018. Headquartered in McLean, Virginia, Capital One offers a broad
spectrum of financial products and services to consumers, small
businesses and commercial clients through a variety of channels.
Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New
Jersey and the District of
Columbia. A Fortune 500 company, Capital One trades on the
New York Stock Exchange under the symbol "COF" and is included in
the S&P 100 index.
Survey Methodology
The study by Capital One was
conducted in October 2018 and fielded
a nationally representative online survey of 1,000 U.S. respondents
age 18 and older. The survey was designed to uncover U.S. consumers
attitudes and behaviors regarding their credit score, fraud, and if
and how they are keeping tabs on their personal
information—especially during the holiday shopping
season.
Media Contacts:
Liz
Anderson, Senior Communications Manager
liz.anderson@capitalone.com
Annie Ronquillo, Corporate
Communications Specialist
annie.ronquillo@capitalone.com
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SOURCE Capital One