This statistic presents the effectiveness of leading transaction authentication methods for ACH fraud risk mitigation and their effectiveness, as assessed by U.S. financial institutions in 2016. At that time, 58 percent of institutions indicated that using an ID and Password was very effective.
Effectiveness of transaction authentication measures used by financial institutions to mitigate ACH fraud risk in the United States in 2016
Characteristic
Use & very effective
Use & somewhat effective
Use & somewhat ineffective
Don't use
Don't know
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Federal Reserve. (February 8, 2018). Effectiveness of transaction authentication measures used by financial institutions to mitigate ACH fraud risk in the United States in 2016 [Graph]. In Statista. Retrieved August 24, 2024, from https://www.statista.com/statistics/942526/transaction-authentication-measures-to-mitigate-ach-fraud-risk-us/
Federal Reserve. "Effectiveness of transaction authentication measures used by financial institutions to mitigate ACH fraud risk in the United States in 2016." Chart. February 8, 2018. Statista. Accessed August 24, 2024. https://www.statista.com/statistics/942526/transaction-authentication-measures-to-mitigate-ach-fraud-risk-us/
Federal Reserve. (2018). Effectiveness of transaction authentication measures used by financial institutions to mitigate ACH fraud risk in the United States in 2016. Statista. Statista Inc.. Accessed: August 24, 2024. https://www.statista.com/statistics/942526/transaction-authentication-measures-to-mitigate-ach-fraud-risk-us/
Federal Reserve. "Effectiveness of Transaction Authentication Measures Used by Financial Institutions to Mitigate Ach Fraud Risk in The United States in 2016." Statista, Statista Inc., 8 Feb 2018, https://www.statista.com/statistics/942526/transaction-authentication-measures-to-mitigate-ach-fraud-risk-us/
Federal Reserve, Effectiveness of transaction authentication measures used by financial institutions to mitigate ACH fraud risk in the United States in 2016 Statista, https://www.statista.com/statistics/942526/transaction-authentication-measures-to-mitigate-ach-fraud-risk-us/ (last visited August 24, 2024)
Effectiveness of transaction authentication measures used by financial institutions to mitigate ACH fraud risk in the United States in 2016 [Graph], Federal Reserve, February 8, 2018. [Online]. Available: https://www.statista.com/statistics/942526/transaction-authentication-measures-to-mitigate-ach-fraud-risk-us/