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Most Americans think they can spot a scam, but Citi study reveals otherwise

Investment News

Being aware of the potential of financial scams is an essential life skill these days but being overconfident leaves millions of American adults vulnerable to fraud or identity theft.

A new survey from Citi found that 90% of respondents believe they can identify and prevent financial scams but more than a quarter of the 2,300 who took part in the online poll have been victims already with typically tech-savvy Gen Zs the most likely to say this (32%), despite a recent report showing over 60s are at high risk of cybercrimes.

Being scammed means consequences to victims’ financial health (71% said so) including setting back their savings, sending them (deeper) into debt, or lowering their credit score.


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