Statistics, Facts & Such

• Financial fraud due to cyber attacks were slightly over $9 million last year, a drastic reduction from the $116 million reported the year before.2003 Computer Crime and Security Survey, Computer Security Institution in conjunction with San Francisco FBI's Computer Intrusion Squad, complete report at www.gocsi.com.
• ATM/debit cardholders use their card about four times a week. They are twice as likely to use the card to make a purchase as getting cash from an ATM.PULSE EFT Association
• Losses due to credit card fraud are now over $4 billion annually in the United States alone.Over $2.7 million was the result of the ID theft credit fraud at a New York Based credit bureau.Hypercom.com
• The average ATM depreciation period is five years. The lowest depreciation period noted is five years, the longest is eight years.Survey by ATM Industry Association (ATMIA) as reported in Credit Union Tech Talk, 7/28
• Approximately 7 million adults (3.4% of U.S. consumers) are believed to have been victims of identity theft of some form in 2002. Arresting the perpetrator occurs in only one out of every 700 reported cases.Gartner Market Research, www.Gartner.com
• Treasury is mailing out 26.3 million Child Tax Credit Advance Payment checks. The stated amount will be $400 per dependent child of the taxpayer. The words "TAX RELIEF FOR AMERICA'S FAMILIES" will appear on the bottom of the checks.U.S. Treasury
• In ten years debit cards will be more commonly used than credit cards, but cash will still be the most favorite method of spending. Paper checks will lose ground as checks are converted to automatic clearing house (ACH) transactions at the point of sale.Nilson Report, Predictions
• About 49 billion checks are written annually in the United States. Federal Reserve Study, www.federalreserve.gov

Copyright © 2003 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 13, No. 6, 8/03