New Report reveals Alarming Lack of Security Measures Among Fraud Victims
WASHINGTON, D.C. – A new study released by J.D. Power indicates a significant gap in consumer awareness and proactive security measures, with nearly one-third of individuals who experienced financial fraud in the past year having taken no steps to protect their accounts. The 2025 U.S.Financial Protection Satisfaction Study, based on responses from 40,197 customers, highlights a critical need for improved financial education and more effective security prompting from banks and credit card issuers.
The study found that 32% of fraud victims reported not reviewing recent transactions, updating mobile apps or passwords, or setting up account alerts in the 90 days prior to being defrauded. While many customers do take protective measures – reviewing transactions, updating apps/passwords, and setting alerts were the most common - a substantial portion remain vulnerable.
Further compounding the issue, half of bank customers (50%) and 55% of credit card customers haven’t received any security prompts from their providers in the last 90 days. These prompts typically encourage the use of multi-factor authentication and password updates.
“Overall satisfaction scores fall sharply when security is perceived as lacking,” J.D. Power noted, emphasizing that customer satisfaction remains consistent when security measures are perceived as ”just right” or even “burdensome,” but plummets when customers feel unprotected.
The study measured overall banking account protection satisfaction across four key dimensions: security updates and monitoring, interaction, fraud resolution, and security settings. Credit card account protection satisfaction was evaluated based on security updates and monitoring, fraud resolution, security settings, and communication. Data was collected between September 2024 and September 2025.
