Turns out customers (that’s all of us, folks) are the best fraud protection out there.

According to the Information Security Media Group’s 2012 Faces of Fraud Survey, when asked how a fraud incident was usually detected, 82% of banks said that it was when a consumer notified them.

A very interesting statistic given that the three leading causes of fraud banks experience are those over which the consumer has little control:

  • 56% – Card-not-present
  • 53% – Data breach at a retailer or processor
  • 47% – Point-of-sales skimming

Read the full article here.

Source: Digital ID News