Abstract
Javelin Strategy & Research announces new research that measures the cardholder-facing identity fraud Prevention, Detection and Resolution・ capabilities of major credit card issuers. Fraud containment is critical to industry profitability; 2004 credit card identity fraud crimes topped $19.8 billion, not counting operational and relationship-oriented costs. Using a rigorous, multi-level methodology, this research evaluates the top 39 U.S. issuers based on 38 safety criteria.
The report is designed to uncover opportunities and highlight areas for improvement for credit card issuer programs to control the overwhelming costs associated with identity theft and fraud and to increase customer preference. Specific recommendations are provided for issuers to help prevent and detect identity fraud and to improve resolution capabilities for victims.
Issuers can utilize this report to:
- Increase account holders safety and trust
- Implement product differentiation based on security offerings
- Benchmark vis-・vis other issuers
- Improve customer loyalty and transaction volume
- Reduce fraud and chargebacks
