Overconfidence exposes many Americans to financial scams
January 8, 2024 by Ayo Mseka
Although 90% of U.S. adults express confidence in their ability to detect and prevent financial scams, more than a quarter (27%) of 2,432 online respondents reported falling victim at some point to them, according to a survey by Citi. This disconnect, the study says, emphasizes the need for continued vigilance, awareness, and education to keep consumers’ finances safe.
“Today’s scammers are nimble, well-organized and aided by sophisticated tools,” said Michael Steinbach, head of financial crimes and fraud prevention at Citi.
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