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STATS

  • Identity theft victims spend about 30 hours canceling accounts and filing reports.USA Today, Citibank Research, 12/14/03

  • The financial industry is expected to increase the use of voice verification technology, with revenues going from $20 million in 2003 to $142 million in 2007. This technology is expected to be used extensively on loan and new account applicationsBiometric Market Report 2003-2007, International Biometric Group Press Release, 12/8/03

  • MasterCard now equips some cards with chips capable of communicating via a radio-frequency circuit with special readers at point of sale terminals, eliminating any contact between card and reader.MasterCard, Press Release, 12/15/03

  • In 1861 the United States issued non-interest "Demand Notes" that were green on the back to finance the Civil War - hence the nickname "greenback" for our currency.U.S. Treasury, Cheapskate.com, 10/29/03

  • 27,000 people responded to an AT&T WorldNet poll about unsolicited email offers. 32% reported credit card offers; 30% got loan offers; 30% received offers to make money working at home; 27% got invitations to visit X-rated sites; 12% received Nigerian Money offers.National Consumers League, Newswire

  • 251 organizations reported almost $202 million in financial losses due to computer crime in 2002. Losses reported for financial fraud were over $9 million, compared to nearly $116 million reported in 2001.Computer Security Institute & FBI's Computer Intrusion Squad, 2003 Computer Crime and Security Survey

  • The typical ATM/Debit card holder uses their card about four times a week, and they are twice as likely to be making a purchase rather than getting cash from an ATM.PULSE EFT Association, 10/31/03

  • There were 400 million debit card transactions in 1992. There were 14 billion in 2002.Ibid.
Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 13, No. 10, 1/04

First published on 01/01/2004

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