6% of US Consumers say that They Have Switched Banks to Reduce Risk of Identity Theft

Simson Garfinkel ’87, PhD ’05archive page

March 19, 2005

I gotta admit, this short article in Information Week didn’t seem right to me. It says that 60% of US consumers are worried about ID theft and that 6% have switched banks, according to a survey by the market research firm Financial Insights.

Then I remembered that I closed my account at Shawmut bank back in 1988 when the started printing my social security number on my bank statement. I didn’t like this practice and I wanted them to stop, but they refused. So I took my business elsewhere.

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