Identity Theft Rates Among Top Banks

Identity Theft Rates Among Top Banks

Consumers, regulators, and businesses lack objective tools to compare the incidence of identity theft across financial institutions and without such tools, consumers cannot ‘vote with their feet’ and choose safer institutions.

Now a study by Chris Hoofnagle has analyzed 88,000 complaints submitted by victims to the FTC over a three month period in 2006 and found that Bank of America ranked highest of all firms in the study, with an average of 1,117 incidents over a three-month period. Revealing graphs after the jump.

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