November 18, 2019

Insights from Shred-it’s Second Annual International Fraud Awareness Week Report

Results of Shred-it’s second annual International Fraud Awareness Week Report have just been released providing an important reminder that many people do not take the proper precautions to protect themselves against fraud.

The data revealed that nearly half (46%) of Americans believe they are vulnerable to information fraud or identity theft based on their physical and digital security habits, including anything from reusing passwords/PINs and improper storage of files, to sharing their login details with family and friends. Because of this, many individuals are unnecessarily increasing their risk of becoming a victim of identify fraud. In addition, the survey data revealed many people exhibit safer security habits at home than at work, leaving businesses at risk. What’s more, if a company or brand they have done business with suffered a data breach, more than a third (34%) of Americans would stop doing business with them or delete their account/membership.

Combined with the results of Shred-it’s 2019 Data Protection Report, which showed more than half (53%) of small business owners believe data breaches are “no big deal” and “blown out of proportion,” it is clear that Shred-it’s International Fraud Awareness Week Report identifies a significant disconnect between business owners and consumers when it comes to information security.

The survey exposes consumer information security concerns, trends and habits ahead of International Fraud Awareness Week - November 17-23, 2019 and found the following:

• More than four in 10 (41%) Americans believe that brands today do not take proper security measures to safeguard their personal information and think their personal information could be vulnerable to a breach.
• Providing protection against fraud is key for businesses as nearly three-quarters (73%) of Americans would be more likely to shop or do business with a company that has cyber insurance protection.
• More than a quarter (27%) of Americans do not shred paper or physical documents containing sensitive information before throwing them away at home, but more than a quarter (72%) do.
• Nearly three in ten (28%) Americans do not shred paper or physical documents containing sensitive information before throwing them away at work.

Despite notable data breaches and privacy continuing to be a growing concern in our society, further education and awareness is needed in order to properly prevent fraud.

To learn more about how Shred-it can protect your documents, please contact us to get a free quote and security risk assessment.