42% of scam victims who reported the fraud to their bank recovered all losses

AI-assisted source summary · not independently verified. Content standards

A PYMNTS Intelligence survey of 9,524 U.S. consumers found that 42% of scam victims who reported the fraud to their bank recovered all stolen funds, compared with 20% of those who reported through channels outside their bank and 8.1% of those who did not report it. Among those who recovered some of their funds, 79% received the money through a financial institution; 11% did not report the fraud at all, up 26% from the previous survey, and banks could improve the help-seeking experience by providing clearer reporting guidance.