A recent TransUnion survey found that 89% of American consumers don’t view defending against fraud and data breaches as easy, and only a mere 15% feel they have the necessary tools to protect their personal data. So, we did something about that!
In light of some large breaches and the spotlight on how vulnerable personal information is these days, it’s time consumers are given a more solid sense of control — and the peace of mind that accompanies it. Now consumers can easily freeze and unfreeze their credit reports — in a matter of seconds.
A credit freeze protects consumers by preventing lenders from checking a credit report to open a new account — which can block fraudsters from opening an account in a consumer’s name, and credit information from being released for certain other inquiries. In May 2018, the Economic Recovery, Regulatory Relief, and Consumer Protection Act was signed into law requiring consumers be given the ability to place and remove a freeze on their credit files — at no charge. TransUnion was quick to advocate this law, seeing it as an important step in empowering consumers with the tools needed to understand and manage their credit, and protect their personal information.
It comes at a time when so many are feeling uneasy about the security of personal data — as highlighted in additional stats from our survey: 75% of respondents said they’ve become more concerned about data breaches in the past year; more than 50% think they’re vulnerable to identity theft and credit card fraud; more than 75% know someone affected by a fraud or data breach, and 54% have been a victim themselves.
TransUnion takes data security extremely seriously and is passionate about encouraging consumers to take action. That’s why we’re continually building our portfolio of tools to help prevent fraud and data breach. We know data security can seem daunting — that’s why we’re excited to augment our offerings with our new myTransUnion app that makes it easier than ever to protect your credit information. It completely aligns with our mission of using Information for GoodSM.
The data points referenced come from a survey produced by Ipsos on behalf of TransUnion. The survey was conducted online using 1,000 nationally representative U.S. adults and was fielded from Aug. 3–8, 2018