Scam victims suffer emotional trauma

A new report by the Identity Theft Resource Center (ITRC) finds that consumers who fall victim to financial scams and fraud often experience emotional impacts in addition to financial ones. The “2026 Consumer Impact Report” reveals that 33.7% of general consumer scam victims experienced adverse effects, compared to 17.3% of traditional identity theft victims.

Eva Velasquez, ITRC chief executive, notes that the harm caused by scams and identity theft goes beyond financial loss. “Whether a criminal steals personal information outright or manipulates someone into handing it over, the harm flows from losing control of the credentials and data that prove who we are,” she says.

Velasquez adds that scam victims often experience self-doubt and worry about potential future consequences. The report found that 80.5% of scam victims experienced suicide ideation, compared to 24.5% of identity theft victims. Emotional support was sought by 91.4% of scam victims, compared to 37.2% of identity theft victims.

The ITRC report also found that scam victims were more likely to file for bankruptcy (20.4% vs. 8.8%) and experience job loss (12.3% vs. 3.1%) compared to identity theft victims. The emotional devastation of scams can lead to feelings of guilt and shame, with 54.8% of scam victim respondents experiencing these feelings. The ITRC describes this as an “unseen crisis” among consumers.

When asked about fault, 87% of general scam-victim respondents agreed it was partly their fault. The ITRC suggests that businesses can help by responding appropriately to consumer pleas for help. However, 87.9% of scam victims reported that organizations never responded to their requests, and 67.2% felt blamed by institutions. The ITRC recommends eliminating non-responsive outcomes and noting the nature of the consumer’s plea.

The report is based on a survey of 1,111 U.S. adults and 197 individuals who contacted the ITRC for assistance in the previous 12 months. The ITRC also recommends that search engines and social media platforms do a better job of policing paid ads and outreach targeting recent fraud victims to reduce their exposure to fee-based recovery programs.

If you or someone you know is struggling with suicidal thoughts, call or text 988 (Suicide & Crisis Lifeline).