Financial Scams are the New Customer-Churn Crisis for Banks
Financial Scams and Consumer Trust
Scammers aren’t just stealing money. They’re stealing loyalty. “Financial Scams and Consumer Trust,” a PYMNTS Intelligence report commissioned by Block, shows how fast-moving fraud is driving customers out the digital door, with even reimbursed victims walking away from their banks. Download your copy now.
Inside the November Report
- Younger, affluent and college-educated consumers now face the highest scam exposure, overturning long-held assumptions about fraud vulnerability.
- More than eight in 10 involve impersonation, with nearly two-thirds of victims sending money within 24 hours.
- Reporting scams to banks sharply improves fund recovery and confidence—yet one in five victims still leave their primary institution afterward.
