Shattering Gender Stereotypes in Scam Awareness and Education

Inherent biases exist everywhere, including in how financial institutions educate consumers about the dangers of scams. Bias in cyber and fraud prevention education is based, in part, on assumptions FIs make about which age groups, genders, and socioeconomic groups are most susceptible to fraud. 

Javelin finds that the assumptions many of us make about fraud risk, particularly when it comes to gender, are incorrect, ignored, or downplayed to the point that those assumptions have made cybersecurity and fraud prevention education essentially ineffective. Javelin’s 2022 consumer fraud survey finds significant differences between consumers identifying as female versus male, not only in fraud losses but also in the types of scams most likely to ensnare them. Noting the gender response limitation for consumers—in that consumers were provided only two gender options—Javelin finds striking differences among genders where victimization is concerned. 

Key questions discussed in this report:

• What biases exist in the way consumers are educated about scam risks, and how are they based on assumptions made by FIs about which groups are most likely to be targeted by specific types of schemes? 
• How do criminals modify their tactics to victimize different genders?
• Are FIs equipped to address scam education and awareness gaps that differ among gender groups?