According to recent research by emerchantpay, a global payment service provider and acquirer, 72% of UK adults claim that fraudulent attempts now appear more convincing compared to previous years. Interestingly, 56% believe that artificial intelligence (AI) complicates the detection process for fraudsters.

This study, released on April 1, 2026, focused on UK consumers’ experiences and perceptions regarding financial fraud. The findings reveal that a significant number of adults—half of them specifically—have observed an uptick in financial scams over the past year. Generation Z is particularly vulnerable; 57% of this demographic report increased instances of scamming.

Online Shopping as a Hotspot for Scams

Citizens Advice, a reference cited in the report, highlights that online shopping emerges as one of the primary scenarios where people fall victim to fraud. Approximately 26% of those who have encountered scammers within the last year were approached while shopping online.

The rise in fraudulent activities is influencing consumer behavior. Three-quarters of UK adults now refrain from purchasing items through social media links out of concern for potential scams, a change that could significantly impact social commerce and digital marketing metrics.

Another challenge highlighted by the research concerns the stigma associated with being a fraud victim. Sixty percent of UK adults feel embarrassed if they become victims, and 39% fear judgment if their financial losses are substantial enough to report. This sentiment is particularly pronounced among younger individuals: around nine million UK adults—about 17% of the adult population—are unwilling to report scams involving sums under GBP 100, potentially leading to a significant amount of low-value fraud going unreported and without tracking.

Alexander Berrai, Deputy CEO at emerchantpay, comments that AI has substantially lowered barriers for scammers to execute sophisticated schemes on a large scale. He emphasizes the need for consumer protection measures to evolve alongside changes in the fraudulent landscape. Furthermore, he stresses that responsibility cannot solely lie with consumers and advocates for collaboration among retailers, banks, payment providers, and social media platforms to integrate effective fraud prevention directly into transaction processes.