US financial institutions mention identity theft issues among their top concerns when using debit cards, a recent survey has unveiled.

According to the study commissioned by US payments association Swacha, 71 percent of respondents have shown themselves most concerned with identity fraud problems related to debit card usage.

Moreover, approximately 43 percent or participants have claimed that they spent up to or more than 40 hours in 2009, dealing with fraud issues, such as card skimming or data leakage, within their institutions. In addition, over 19.2 percent of those surveyed said they spent up to USD 50,000 to solve their fraud cases.

The survey has been conducted among banks, credit unions and other financial institutions in the electronic payments industry for a better understanding of the various risks associated with debit cards.