New Report reveals Alarming Lack of Security Measures โAmong Fraud Victims
WASHINGTON, D.C. – A new study released โคby J.D. Power indicates a โคsignificant gap in consumer awareness โขand proactive security โขmeasures, with nearly one-thirdโ of individuals who experienced financial fraudโ in the โฃpast year having taken no steps to protect their accounts. The 2025 U.S.Financial Protection Satisfaction Study, based โon responses from 40,197 customers, highlights a critical needโ for improved financial education and more effective security prompting from banks and credit card issuers.
The study found that โค32% of fraud victims reported not reviewing recent transactions, โขupdating mobile apps or passwords, or setting up account alerts in the 90โค days prior to beingโ defrauded. While many customers do takeโ protectiveโค measures – reviewing transactions, updating apps/passwords, and setting alerts were the most common โ-โฃ a substantial portion remain vulnerable.
Further compounding the issue, half of bank customers (50%) andโข 55% of credit card customers haven’t received anyโค security prompts from their providers in the last 90 days.โข These prompts typically encourage the use ofโข multi-factor authentication and password updates.
“Overall satisfaction scores fall sharply when security โis perceived as lacking,” J.D. Power noted, emphasizing that customer satisfaction remains consistent when security measures are โขperceived as โ”just right” or even “burdensome,” but plummets when customers feelโ unprotected.
The โขstudy measured โoverall banking accountโ protection satisfaction across four key dimensions: security updates and monitoring, interaction, fraud resolution, and security settings.โ Credit cardโ account protection satisfaction was evaluated based on security updates and monitoring, fraud resolution,โค security settings, and communication. Data was collected between September 2024 and September 2025.
