AUSTIN, Texas--(BUSINESS WIRE)--With a new identity fraud victim every two seconds, there is significant risk to consumers. This was evident in the fact that consumers spent more than $1 billion on identity protections subscriptions last year, according to Javelin Strategy & Research. CSID, the leading provider of global identity protection and fraud detection technologies, powering over 80 percent of the retail identity theft protection industry, today released the first-edition ID Secured report studying the global population of individuals who are active subscribers of identity theft protection products.
“The purpose of this ongoing study will be to better understand trends, habits, and high-level customer profiles of the ‘ID Secured’ population,” said CSID President Joe Ross. “By understanding this population, we can help move the needle forward in identifying unprotected consumers and ultimately mitigate the risk and impact of the growing cases of identity theft around the world.”
Based on the data from a sample of 47 CSID subscriber groups (99 percent of this population is based in the U.S.) analyzed over a three month period, ID Secured: Volume 1 provides an in-depth look into how consumers are enrolling and using credit and non-credit identity protection products. A highlight of findings include:
- Most subscribers identified as male, revealing a need to tailor marketing and education to women.
- Most subscribers reported living in the states of Texas and California, which presents the opportunity to reach individuals in other states and other countries on a global scale.
- Mortgage fraud is the most difficult type of fraud to resolve, taking 27.5 hours, whereas utility fraud takes the least amount of time to resolve, taking 4 hours.
The study identified three distinct user profiles:
- Profile 1: Typically a 22 to 54-year-old male with a qualified interest in reading technology blogs who is likely to enroll in identity protection services via a free trial, such as a free credit report, or as a free benefit of a program with which he is already associated.
- Profile 2: A middle-aged male from Texas or the Midwest and the most likely profile to pay for identity protection, preferring a mid-tier service.
- Profile 3: A male or female age 55+ from the East Coast who has been a breach victim and enrolled in an identity protection product as a result.
To access the full report, visit www.csid.com/IDSecured
CSID is a leading provider of global identity protection and fraud detection technologies for businesses, their employees, and consumers. With CSID’s enterprise-level solutions, businesses can take a proactive approach to protecting the identities of their consumers all around the world. CSID’s comprehensive identity protection services extend beyond credit monitoring to include a full suite of identity monitoring and fraud detection services; identity theft insurance provided under policies issued to CSID; full-service restoration services; and proactive data breach services. Join CSID on Facebook at https://www.facebook.com/CSID and on Twitter at @CSIdentity.