ST. PAUL, Minn.—A statewide survey indicates that over one-third of Minnesotans have had a credit or debit card replaced because of fraudulent use or a data breach. The survey of 500 Minnesotans was conducted for the Minnesota Credit Union Network by Fluence Media and American Strategies.
“The costs of data breaches and card replacements place a major burden on credit unions and other financial institutions,” said MnCUN President and CEO Mark Cummins in a statement. “We should update our laws and regulations to hold retailers accountable for data breaches that impact customers and violate the level of trust consumers have.”
Despite a record number of retail data breaches in the past 18 months, only 36% of Minnesotans blame stores when their personal financial information is compromised, while they also blame credit unions/banks, credit card companies and Internet providers. Additionally, 59% of Minnesotans believe that stores should pay if they are responsible for the replacement of a card because of a data breach or hacking incident.
Other findings: 42% of those under 50 years of age have been impacted while 28% of those over 50 have been impacted by data breaches. College-educated Minnesotans are also more likely to have been impacted than non-college educated respondents.
The poll of 500 likely Minnesota voters was conducted in January 2015 by American Strategies and Fluence Media.