By Beth McGarrity
Recently, Javelin Strategy & Research released a study that analyzes how consumers’ credit details are secure. The Seventh Annual Card Issuer’s Safety Scorecard dives into existing trends related to card fraud, mitigation against these threats and evaluation of card issuers that have consumer-facing prevention, detection and resolution capabilities.
The study focused on the top 20 card issuers such as American Express, MasterCard, Visa, Bank of America, JP Morgan Chase, Capital One and more. The results found that card issuers do a good job resolving fraud problems once they occur, but ultimately fall short on prevention and detection.
In light of the number of recent breaches that have impacted big brands, as well as financial institutions like Citigroup, consumers need to be aware of how their payment information is protected and take proactive steps to ensure their own credit protection.