Identity Theft Remains a Concern for Bank Customers Amid Economic Slowdown

A Secure Identity Systems survey found that 54 percent of bank
customers who expressed concern about their bank are worried about the
safety of their money and the risk of identity theft
BRENTWOOD, Tenn.--(Business Wire)--
As the Red Flag deadline draws near for financial institutions to
develop identity theft protection programs, the results of a new
consumer survey conducted by Harris Interactive(R) for Secure Identity
Systems found that more than half of bank customers worried about the
current state of their bank are concerned that their money and
identity are not safe. The survey polled 2,212 U.S. adults ages 18 and
up on the topics of banking and identity theft.

According to the survey, bank customers with concerns regarding
financial institutions are more worried about identity theft than
other banking issues, such as bank fees or financial reimbursement if
their bank fails. Among adults who have worries about their bank or
financial institution:

-- 40 percent are worried that they might be subject to identity
theft.

-- 39 percent are worried that their bank might fail given the
current financial crisis.

-- 32 percent feel their bank charges fees that are too high.

-- 31 percent are concerned that they will not be reimbursed
should their bank fail.

The consumer poll also revealed that one-third (35 percent) of
bank customers are only somewhat or not at all confident that their
personal information is secure at their bank or financial institution.
When it comes to customer loyalty to their bank, 57 percent of bank
customers surveyed would be at least somewhat likely to switch to
another bank if it offered free identity theft protection services,
more so even than lower account fees (52 percent). One-fourth (26
percent) of bank customers indicated that they would likely make the
switch for free identity theft protection. Other incentives that would
make bank customers likely to switch banks include:

-- a $100 deposit in their account (28 percent)

-- lower account fees (23 percent)

-- a digital camera (12 percent)

-- a raffle entry for a free vacation (6 percent)

"This is a tumultuous time for many financial institutions
throughout the country, but it's important for banks to recognize the
concerns of their customers," says Bryan Ansley, CEO of Secure
Identity Systems. "The results of our research show that identity
theft continues to be an important issue for consumers, even during
the strain of the current economic conditions. Bank customers want
security for their money and their personal information. We hope that
banks will take the necessary steps to meet the Red Flag compliances
so that they can offer customers more safeguards and reduce the risks
of fraud."

Secure Identity Systems is the only company in the United States
to offer financial institutions a complete, end-to-end solution for
Red Flag compliance. For more information about Secure Identity
Systems' array of ID fraud protection services, including New Account
Authentication, Anti-phishing Detection and Take-down, and mConfirm
Authentication, visit www.SecureIdentitySystems.com.

ABOUT THE SURVEY

This Banking and Identity Theft survey was conducted online for
Secure Identity Systems by Harris Interactive between Oct. 8 and 10,
2008, among 2,212 U.S. adults, of whom 2,166 use a bank or financial
institution. These online surveys are not based on probability samples
and therefore no estimates of theoretical sampling error can be
calculated. A full methodology is available.

ABOUT HARRIS INTERACTIVE

Harris Interactive is a global leader in custom market research.
With a long and rich history in multimodal research that is powered by
our science and technology, we assist clients in achieving business
results. Harris Interactive serves clients globally through our North
American, European, and Asian offices and a network of independent
market research firms. For more information, please visit
www.HarrisInteractive.com.

ABOUT SECURE IDENTITY SYSTEMS

Secure Identity Systems is the leading provider of fully managed,
total identity theft protection systems that safeguard financial
institutions, businesses, individuals, and households. For more
information, visit http://SecureIdentitySystems.com/.

Press contact:
Gregory FCA
Denise DiMeglio
610-642-8253, ext. 143
Denise@GregoryFCA.com

Copyright Business Wire 2008