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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,
AOL, 8/22/00

It is estimated that global online credit card fraud will reach $9 billion by 2001.Meridien Research, by Oasis Technology Ltd., Toronto, Canada,
AOL, 8/22/00

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

First published on 10/01/2000

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