Banks and credit card companies are attempting to augment their data protection systems in the run-up to the Christmas shopping rush.
Larger institutions all fared well in the report, which investigated how US banks deal with fraud protection.
The Bank of America, Regions Bank and Wells Fargo all received top marks in the report, published by research firm Javelin.
These banks were also found to have the highest level of identity fraud detection, along with Citibank.
Several financial institutions have also begun updating online security measures, including curtailing the use of a full social security number in online authentification.
James Van Dyke, president and founder of Javelin, said that "in a recession facing more identity fraud and an entire reshuffling of top banking providers, substantial improvements occurred in how banks work with customers to prevent identity crimes".
He added: "Consumers don't just want to be protected by others; they want involvement in protecting their money and identity. Inventive criminals continually update their methods and banks must do the same."