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TransUnion® Outlines Consumer Concerns in National Survey, Introduces New Mobile App to Empower Consumers
CHICAGO, Sept. 17, 2018 (GLOBE NEWSWIRE) -- TransUnion (NYSE: TRU), a leading global risk and information solutions provider, today announced key survey findings that reveal personal data security is increasingly top of mind for people, and most consumers feel unprepared to deal with it. Seventy-five percent of respondents indicated they have become more concerned about data breaches in the past year. More than 50 percent think they are vulnerable to identity theft and credit card fraud, and more than 75 percent of respondents know someone who has been affected by a fraud or data breach. However, only 15 percent of respondents feel highly confident they have the tools they need to protect themselves from fraud and data breaches.
To provide consumers with a free resource for protection, TransUnion recently launched an app called myTransUnion. The new mobile app allows consumers to quickly and easily freeze and unfreeze their credit reports for free in a matter of seconds, whenever they need, right from their pocket. A credit freeze protects consumers by preventing lenders from checking a credit report to open a new account – which can prevent fraudsters from opening an account in a consumer’s name and also prevents credit information from being released for certain other inquiries. myTransUnion is available for download from the Apple App Store and Google Play Store.
TransUnion is introducing the app in time for consumers to take advantage of the “free freeze” law that goes into effect on September 21, 2018. In May 2018, the Economic Recovery, Regulatory Relief, and Consumer Protection Act was signed into law requiring that consumers be given the ability to place and remove a freeze on their credit files -- for free. TransUnion applauds this law as an important step forward in empowering consumers with the tools they need to understand and manage their credit and protect their personal information.
“As personal data protection becomes an increasingly growing concern, we are more passionate than ever about encouraging consumers to take action,” said John Danaher, President, Consumer Interactive. “That’s why we are continually building our portfolio of tools to help prevent fraud and data breach.”
It is this portfolio that empowers consumers by offering different options to meet their needs. Danaher noted, “Through the years, we’ve given consumers the power to protect their credit and their data through an array of innovative services and products, many of which are free. TrueIdentity is one example that gives millions of consumers the ability to lock and unlock their credit with a single swipe while also providing insurance for identity theft. And earlier this year we were the first to provide alerts in our consumer products that notify consumers with a locked credit report that a fraudster has attempted and been stopped from applying for credit in their name.”
According to the company’s latest survey, many Americans have experienced a fraud and/or data breach, with 54 percent of respondents indicating that they have been a victim at least once. Further, one in five of those victims reported they have been a victim more than once in the last 18 months.
“Data security can feel daunting,” Danaher added. “That is why we’re thrilled to introduce our new myTransUnion app which makes it easier than ever before to protect your credit information.”
About the Survey
TransUnion conducted an online survey of 1,000 nationally representative US adults ages 18+, fielded by IPSOS in August 2018.
About TransUnion (NYSE:TRU)
Information is a powerful thing. At TransUnion, we realize that. We are dedicated to finding innovative ways information can be used to help individuals make better and smarter decisions. We help uncover unique stories, trends and insights behind each data point, using historical information as well as alternative data sources. This allows a variety of markets and businesses to better manage risk and consumers to better manage their credit, personal information and identity. Today, TransUnion has a global presence in more than 30 countries and a leading presence in several international markets across North America, Africa, Latin America and Asia. Through the power of information, TransUnion is working to build stronger economies and families and safer communities worldwide. We call this Information for GoodSM.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/1236cba7-10b4-4723-9390-df61385f6454