US identity fraud drops, but breaches scare consumers

The number of victims of identity fraud in the US decreased 3% to 12.7 million in 2014 and total fraud losses declined to US$16 billion — a decrease of 11% from 2013 — a study from Javelin Strategy & Research has found. However, a series of high-profile card data breaches had a great impact on consumer purchasing decisions, with 28% of fraud victims saying they avoided affected merchants after the fraud, say the authors of the 2015 Identity Fraud study.