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One in six US adults (16%) - the equivalent of 40 million consumers - have lost money through online scams in the past two years, according to new research by NordVPN. The majority (76%) reported losing up to $1,000, while nearly one in five (18%) admitted to losses ranging between $1,000 and over $5,000.

A NordVPN cybersecurity expert shares practical tips to help consumers safeguard their hard-earned money from online fraudsters. New York, 23 April 2025 - An estimated 40 million Americans have lost money to cybercriminals over the past two years, according to a new report by NordVPN[1].

The survey reveals that one in six consumers — roughly 40 million people — have been deceived into giving up their hard-earned money through online scams[1].

Over three-quarters (76%) reported losses of up to $1,000, while 6% lost as much as $2,500, another 6% up to $5,000, and 6% reported losing more than $5,000[2].

The research reveals that a staggering 78% of Americans have encountered at least one online scam in the past two years, with Gen Z and Millennials being more susceptible to digital scams than older generations[3].

Marijus Briedis, Chief Technology Officer at NordVPN, comments: “While it is commonly assumed that older, less digitally-savvy people are the main victims of cyber fraud, our research shows that Gen Z and Millennials sometimes get scammed more than their grandparents — they simply fall for different types of scams.'

The study found that 46% of Americans have clicked on an email link that was part of a cyber scam. Millennials (ages 28-43) stood out as the most careless group, with 28% admitting they had clicked on scam links multiple times[4].

Despite their digital fluency, Gen Z (ages 18-27) and Millennials reported the highest number of scam encounters. Meanwhile, retirees and individuals on parental leave reported significantly fewer scam incidents.

Briedis added: “Gen Z, the generation raised on the internet, isn’t immune to online scams.

“Their extensive use of technology across multiple devices creates more opportunities for scammers. This comfort with digital environments can sometimes result in a false sense of security.”

Gen Z is particularly vulnerable to fake job offers, verification code scams, account cloning on social media and messaging apps, and fake QR code scams.

Meanwhile, Baby Boomers (ages 60-78) have been targeted by delivery scams, fake login pages, and fraudulent service calls. A quarter of Boomers admitted to falling for fake gift card or prize scams, and they are twice as likely as Gen Z to be victims of romance scams.

Briedis comments: “Today, we're seeing more types of scams than ever, constantly evolving as fraudsters adapt to each generation's behavior patterns and interests.

“The numbers speak for themselves — 78% of Americans admit to encountering at least one scam in the past two years.”

How can you protect yourself from online scams?

No one is safe from online scams. However, some common practices can help you avoid them and protect both your privacy and finances.

Marijus is advising people to always stay in control — don’t panic or make decisions you might later regret. Listen to your instincts and trust your gut if something feels off. Additionally, he lists some practices that should be taken into consideration:

Never disclose security details such as your full banking password, PIN, or one-time passcode to anyone — even bank staff. A genuine organization or bank will never ask you for these over the phone or email.

Never assume a text, phone call, or email is authentic just because someone knows basic details about you. Scammers can manipulate caller ID to make any phone number appear real, so even if you recognize it, don’t use it as proof of authenticity.

Check the sender’s email address. The email might mimic a trusted company’s address with slight variations, like a misspelled domain (“paypall.com” instead of “paypal.com”).
Be wary of generic greetings or messages. Scammers often use generic greetings such as ‘hello’ or ‘good morning’ in phishing emails to reach large groups quickly.

Beware of urgent messages. No legitimate business will ever rush you into making quick decisions by threatening to cancel your orders or suspend your account.
Look for spelling and grammatical errors. Scammers don’t typically take the time to check that their English is correct.

Beware of emails that offer you gifts or money. Too-good-to-be-true emails often lure you in with promises of gifts or money if you click a link or open an attachment.
ENDS

Methodology: This research was commissioned by NordVPN and carried out by Cint between November 18 and 28, 2024. A total of 1,000 respondents from the US, aged 18 to 74, were surveyed. Researchers placed quotas on respondents' gender, age, and place of residence to achieve a nationally representative sample among internet users.

Respondents were asked ‘Have you lost any money to the scams you encountered in the past 2 years?’ 15.68% of US adults said ‘Yes’. The 2020 US Census Bureau counted 331.4 million people living in the United States; more than three-quarters (77.9%) or 258.3 million were adults, 18 years or older. 15.68% of 258.3 million = 40,501,440 people have lost money to an online scam.

Respondents were asked ‘How much did you lose?’. 27% lost $100 or less, 17% lost $101 to $250, 17% lost $251 to $500, 6% lost $501 to $750, 9% lost $751 to $1,000, 6% lost $1,001 to $2,500, 6% lost $2,501 to $5,000, 6% lost more than $5,000.

Respondents were asked ‘Which of these scams have you personally encountered in the past 2 years?’. 78% answered ‘I’ve encountered at least one scam’.

Respondents were asked ‘Have you clicked an email link that you later realized was part of a cyber scam (such as phishing, malware, fake website, or other) this year?’. 22% said ‘Yes, more than once’ and 24% said ‘Yes, once’. 28% of the ‘Y generation/ Millennials’ age group voted ‘Yes, more than once’.
About NordVPN:

NordVPN is the world’s most advanced VPN service provider, chosen by millions of internet users worldwide. The service offers features such as dedicated IP, Double VPN, and Onion Over VPN servers, which help to boost your online privacy with zero tracking.

One of NordVPN’s key features is Threat Protection Pro™, a tool that blocks malicious websites, trackers, and ads and scans downloads for malware. The latest creation of Nord Security, NordVPN’s parent company, is Saily — a global eSIM service. NordVPN is known for being user friendly and can offer some of the best prices on the market. This VPN provider has over 7,300 servers covering 118 countries worldwide. For more information, visit https://nordvpn.com