Holiday shopping: It's down to the 11th hour and rather than jostling for a parking spot or fighting for a fitting room, more consumers are choosing to shop online or on their mobile devices.
Sure, shopping online can save you some coin on shipping costs, and using a smartphone certainly makes price comparisons infinitely easier. But consumers are trading convenience for safety, according to a new study sponsored by Norton and conducted by Javelin Strategy & Research.
“It’s the amount of activity that makes people more vulnerable," says personal finance expert Jean Chatzky. "People just aren’t being as careful as they should be in a number of different ways."
Nearly 12 million people were victims of identity theft during a recent two-year period, according to a study from the Department of Justice. Approximately 6.2 million victims experienced the unauthorized use or attempted use of an existing credit card, representing the most common form of identity theft.
But just because you’re not a fan of plastic doesn’t mean you’re much safer – an estimated 4.4 million people reported misuse or attempted misuse of their personal banking account. The financial loss? A whopping $17 billion.