Statistics, Facts & Such
U.S. consumers bought roughly $20 billion worth of retail goods online in 1999.Forrester Research, by Oasis Technology Ltd., Toronto, Canada,
It is estimated that global online credit card fraud will reach $9 billion by 2001.Meridien Research, by Oasis Technology Ltd., Toronto, Canada,
With the demand being driven by the Financial Services Industry, estimates are there will be 150 million wireless financial service users by 2004 - 78 million in Europe, 53 million in Asia-Pacific, and 17 million in the U.S.
Celent Communications, Press Release, 9/1/00
There are at least 24 depository institutions that now advertise themselves as Internet Banks. Combined, they serviced about 300,000 customers in 1999.
Gomez Advisors, Internet Consulting & Research-Lincoln, MA
Of the more than 23,000 financial institutions in the United States, 25 control over 80% of the deposits.
Tower Group, Needham, MA
The average time a customer will stay with their bank is 12 years.
Consumer Reports, May, 2000
73% of bank executives have the ability to work flexible hours, according to the Association for Financial Professional's Survey.
American Banker, 8/14/00, p2
There are about 300 Web sites that offer counterfeit birth certificates, W-2s, driver's licenses, law enforcement credentials, passports, Social Security cards, and military IDs.
U.S. News & World Report, 8/28/00, p45
According to The Security Group for SECURITY magazine, 24% of employee fraud originated from external sources, 60% by current employees, and 16% by management - per incident there were greater losses from theft by the highest ranking executives in the business organization.
2000 Fraud Risk Assessment Survey by Preventing Business Fraud, August 2000, p94.
Copyright © 2000 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 10, No. 10, 10/00