42% of Scam Victims Who Report to Banks Recover Every Dollar
By PYMNTS
AI summary of the source article
A September survey of 9,524 U.S. consumers found that 42% of scam victims who report incidents to banks recover every dollar. Clearer reporting procedures offer banks an opportunity to help more victims recover lost funds.
Why it matters
Banks have an opportunity to help more scam victims recover their money by making reporting what happened clearer.
Key facts
- 42% of scam victims who report to banks recover every dollar.
- A September report surveyed 9,524 consumers in the United States.
- The research examined how scams reach victims, what they lose, and how they respond.
Source excerpt · PYMNTS
Banks have an opportunity to help more scam victims recover their money by making reporting what happened clearer. The September PYMNTS Intelligence report “Fraud’s Loyalty Tax: How Scams Cost Banks Their Customers,” based on a survey of 9,524 consumers in the United States, examined how scams reach victims, what they lose and how they respond. […] The post 42% of Scam Victims Who Report to Banks…