Banks and Online Retailers Losing Customers
Kathy Chu reports of Dow Jones Newswires reports on a study by Financial Insights that assessed the impact that fears of identity theft are having on online consumer behaviors.
The study, conducted by Financial Insights, of Framingham, Mass., said that nearly 6% of consumers have changed banks and about 18% have stopped shopping online due to concerns that their personal information will be stolen. This means that, overall, about 12 million U.S. consumers have likely switched banks and 39 million have ceased online shopping, according to Financial Insights.
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