Gen Z and Millennials Identified as Primary Targets for Scams, According to Block-Commissioned PYMNTS Report

Written by Emily J. Thompson, Senior Investment Analyst

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Source: Benzinga

Updated: Nov 12 2025

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Source: Benzinga

Younger Generations at Higher Risk: A report reveals that younger Americans, particularly Millennials (24%) and Gen Z (22%), are more likely to fall victim to scams compared to older generations, with nearly one in five U.S. adults having been scammed in the past five years.
Scammers Utilize Social Media and AI: The study indicates that scammers are increasingly leveraging social media and AI tools for impersonation, with 24% of Gen Z victims first approached on social platforms and a significant number of victims making payments quickly.
Importance of Reporting Scams: Victims who report scams to their banks have a higher chance of recovering their money and restoring trust in financial institutions, with trust levels rising from 70% to 90% among those who recover funds.
Impact on Consumer Confidence: Despite the potential for recovery, a notable percentage of scam victims (23%) do not report the incidents, and 42% consider switching banks, highlighting the detrimental effect of scams on consumer confidence in the financial system.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.