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Fraud is top of mind for consumers going into the holiday season, but they're largely confident in their bank's security measures for now. When asked about the types of fraud they're most concerned will occur during the coming holiday season, only 11% of US consumers? said none — respondents' least popular answer — while card skimming was the most popular response, with 42% concerned about this type of fraud.
However, if a breach does occur, banks are likely to face consequences — regardless of what caused it. Nearly 1 in 5 consumers say they'd leave their bank and close all of their accounts/cards if their data was compromised. And another 26% say they'd keep their account and card only if the bank took specific actions to improve security and protect their data.