A new Consumer Reports survey found that most Americans have encountered a scam, whether through a digital fraud attempt or a cyberattack.
Nine in 10 Americans said they have experienced some form of scam, and 17% reported losing money as a result.
“AI is making fraud faster, cheaper and more personal, and no one can outsmart that alone. Companies need to be held accountable. Governments need real guardrails. That’s the bar we’re setting, for ourselves and for them,” said Phil Radford, president and CEO of Consumer Reports.
The survey also found that one in five people who encountered a scam said their most recent attempt was personalized using their personal information.
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Consumer confidence in data privacy is also declining. In Consumer Reports' May survey, just 32% of respondents said they felt confident that their sensitive data was private. Meanwhile, the share of people who said they were “not confident at all” nearly doubled to 29%.
“When nearly every American is being targeted online, the status quo on fraud and scam prevention is clearly broken,” said Konstanze Frischen, acting executive director of Aspen Digital.
Many consumers are taking steps to protect themselves, but 29% believe it is the responsibility of online platforms to prevent scams from occurring in the first place.
“This year’s report shows that consumers are fighting back, but they shouldn’t have to fight alone,” Frischen said. “We need solutions that span industry, civil society, philanthropy and government to stop these attacks from continuing to harm communities across the country.”
Consumer Reports said businesses should enable security tools such as multi-factor authentication, make it easier for users to report scams and take stronger steps to combat fraudulent activity on their platforms.
The report also found that while educational resources can help people protect themselves online, both government and industry have a role to play in reducing fraud and improving consumer safety.
