Gen Z loses money to scams more often than boomers

A global fraud survey conducted by London Stock Exchange Group across 21,000 adults in 14 markets reveals a troubling generational divide in scam vulnerability. Younger consumers—particularly Gen Z and millennials—experience financial losses from fraud at significantly higher rates than older demographics, with nearly half of younger victims losing money compared to roughly one-third of baby boomers.

This disparity raises important questions about digital literacy, skepticism, and risk awareness across age cohorts. Younger populations, despite their technological fluency, may lack the experiential caution that older generations have developed through decades of exposure to fraud schemes. Additionally, scammers increasingly tailor tactics to exploit behavioral patterns and trust assumptions common among digital natives.

The findings carry implications for financial institutions, regulators, and consumer protection advocates. As fraud becomes increasingly sophisticated and targets younger demographics with greater success, educational initiatives and platform-level safeguards must evolve accordingly. The data underscores that technological capability does not automatically confer immunity to social engineering and financial deception.