WASHINGTON, June 17, 2026 (GLOBE NEWSWIRE) — Financial fraud is no longer a distant risk but a near-certainty for most Americans. CFP Board’s latest research, “Don’t Fall for It: Guarding Against Financial Fraud,” finds that 62% have already encountered fraud or know someone who has in the past three years, and 55% expect themselves or someone close to them to be targeted again within the next 12 months. Yet just 37% are confident they could identify every form fraud takes, and 29% are unsure whether they could detect an attempt before it is too late.
“Financial fraud is a direct threat to Americans’ financial security, and spotting a scam is not the same as being prepared to stop one,” said CFP Board CEO K. Dane Snowden. “Our research suggests many people may be more vulnerable than they realize — and fraud does its damage in that gap. A CFP® professional can help identify vulnerabilities, recognize warning signs early and build financial resilience to face the future with confidence.”
The Confidence Trap: Fraud Awareness Outpaces Readiness
Americans are broadly aware that fraud is a threat, but confidence in detecting it drops as scams grow more sophisticated. While 71% of Americans feel confident spotting traditional phone and email phishing, that confidence declines for AI voice impersonation (64%), deepfake video calls (61%) and personalized text or email scams that use real names and account details (58%). Overall, only 37% are confident they could identify every form of financial fraud.
Confidence, however, is not the same as protection. Younger Americans aged 45 and under are significantly more confident than their older peers in detecting digital fraud, yet they lose money to fraud at higher rates (32% vs. 20%) and report greater exposure to investment scams (29% vs. 14%).
Fraud is a Fact of Life – And We Need to Talk About It
Three in five Americans have personally encountered financial fraud or know someone who has in the past three years, and 43% report that they or a household member were directly targeted. For those who were, the financial consequences are measurable: a quarter of Americans (24%) have lost money to fraud — and more than half of those (52%) lost $500 or more.
Phishing and smishing (62%) and imposter scams (51%) are the most common fraud types encountered. The primary delivery channels — text messages (57%), email (55%) and phone calls (54%) — are the same tools Americans rely on for everyday financial communication.
Despite the prevalence of fraud incidents, the conversations most likely to offer protection are not happening. While 60% of Americans have discussed financial fraud with a spouse or significant other, just 32% have done so with their parents, and only 21% have talked with their young children. In addition, 37% of Americans worry their grandparents could not detect fraud targeted at them, yet only 6% have had that conversation in the past year.
Fraud Victims’ Silence Compounds the Harm
When fraud happens, many victims go quiet. One in three never contacted a bank, law enforcement, or any government agency after the incident. Among those who chose not to report, 38% did not know who to contact, and one in four cited embarrassment or shame.
The path forward starts with a trusted conversation. When Americans suspect they’ve been targeted, nearly half (45%) say their first call would go to their bank or financial institution. CFP® professionals are trained to help clients identify fraud risk, respond quickly when an incident occurs and integrate fraud risk planning into a broader strategy for long-term financial security.
“Our research demonstrates that most fraud victims face real, practical barriers after an incident: confusion about who to contact, uncertainty about the process and the weight of an experience they weren’t prepared for,” said Kevin Roth, Ph.D., Managing Director of Research at CFP Board. “A trusted financial advisor can help cut through that confusion, connect clients to the right resources and make fraud risk planning a core part of how they protect their financial future.”
To find a CFP® professional who can help you recognize fraud, respond with confidence and protect your long-term financial security, visit LetsMakeAPlan.org.
Download and read the full “Don’t Fall for It: Guarding Against Financial Fraud” report here.
METHODOLOGY
CFP Board’s research team sent a 14-question survey from April 8 to 13, 2026, to randomly selected Americans ages 25 to 64 nationwide, sourced through online survey provider Alchemer. The panel ensures the data collected reflects a reliable demographic and geographic representation of the U.S. population. The survey received 1,218 responses, the data from which are subject to a sampling error of +/- 2.8% at the 95% confidence interval. The survey data form the basis of this report.
ABOUT CFP BOARD
CFP Board is the professional body for personal financial planners in the U.S. CFP Board consists of two affiliated organizations focused on advancing the financial planning profession for the public’s benefit. CFP Board of Standards sets and upholds standards for financial planning and administers the prestigious CERTIFIED FINANCIAL PLANNER® certification — widely recognized by the public, advisors and firms as the standard for financial planners — so that the public has access to the benefits of competent and ethical financial planning. CFP® certification is held by more than 109,000 people in the U.S. CFP Board Center for Financial Planning addresses diversity and workforce development challenges and conducts and publishes research that adds to the financial planning profession’s body of knowledge.
CONTACT: Jane Riley Jacobsen, Director of Public Relations, P: 202-379-2305, E: media@cfpboard.org
