Somehow consumers aren’t making the connection between receiving a data breach notification and later becoming an identity theft victim, according to a new study. As a result, people whose information has been compromised in a data breach are four times more likely to become victims of either identity theft or credit fraud within the next 12 months.
Yet, when asked later about having become identity theft victims, few of the survey respondents attributed their fraud to the data breach they’d been involved in.
The objective behind sending the data breach notification letters is to let consumers know their personal or financial information has been compromised. The notices should spur credit card and bankcard holders to place fraud alerts or credit freezes on their credit reports, or to enroll in identity theft protection services or credit monitoring services.
Unfortunately, it seems few recipients of the data breach notifications are taking heed. (more…)