November 06, 2018

Shred-it Study Reveals U.S. Consumers’ Security Habits Make Them Vulnerable to Fraud

Majority of consumers admit to reusing passwords/PINs across multiple accounts, such as email, computer log in, phone passcode and bank accounts.

LAKE FOREST, IL., Nov. 6, 2018 - Despite almost half of U.S. consumers (49 percent) believing their security habits make them vulnerable to information fraud or identity theft, 51 percent admit to reusing passwords/PINs across multiple accounts such as email, computer log in, phone passcode, and bank accounts. That is according to Shred-it's Consumer Fraud Awareness Survey which exposes consumer concerns, habits and knowledge of information security and fraud ahead of International Fraud Awareness Week, November 11-17, 2018.

Consumers are not only putting their digital security at risk, but their habits toward physical information security also make them vulnerable to fraud or identity theft. While nearly two in 10 consumers (17 percent) are concerned that they could fall victim to a physical security breach, nearly three in 10 consumers (27 percent) admit they do not shred paper or physical documents containing sensitive information before throwing them away.

“The Consumer Fraud Awareness Survey demonstrates how today’s consumers are becoming increasingly vulnerable to fraud or identity theft due to lax information security habits,” said Monu Kalsi, Vice President, Shred-it. “With International Fraud Awareness Week on the horizon, this is an excellent time for information security leaders to share critical tips and advice with consumers on how they can improve their security habits to ensure they’re better protected from a data breach.”

Although consumers may be inadvertently putting their own information security at risk, the study also found they don’t trust companies to keep their personal information safe. Forty-three percent of consumers believe the personal information they share with brands and companies today could be vulnerable to a security breach. With that, 40 percent say they would stop doing business with a brand or company if they previously suffered a security breach.

Additional findings from the survey include:
Consumers are unsure how to determine if they were victims of fraud and do not understand how to report and remediate fraud/identity theft.


Consumers believe they can identify fraudulent emails or calls.


Consumers store paper documents containing sensitive information such as W2 and 1099 forms and social security cards in risky ways.


Baby Boomers have some of the safest information security habits, despite stereotypes suggesting otherwise.

For more information about Shred-it’s Consumer Fraud Awareness Survey and to download the complete findings, please visit shredit.com/ifaw.

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