Half of fraud losses now involve stolen logins or tricked customers

Criminals are increasingly winning by getting past people, not security systems. A new report from PYMNTS Intelligence says stolen logins and manipulated customers made up 50.6% of fraud dollars in 2026. In 2024, that share was 27.6%.

What the report found

The report is called "Scams Get Personal: Why Banks Pay More to Fight Fraud." It is the September 2026 edition of "The Fraud Economy." It draws on a July survey of 90 executives at U.S. banks, credit unions and FinTechs. The jump is 23 percentage points. Its authors say a strong lock helps little when someone convinces the resident to open the door.

There was some good news. Large banks cut average fraud losses to $9 million from $16.8 million in 2025, while keeping prevention spending roughly flat. Among institutions using machine learning, 86% say it helps them catch problems early, up from 25%. Still, 78% name the complexity of new technology as their top barrier.

What to do

The report suggests banks should give customers clearer guidance on spotting pressure to send money. Until that arrives, the habit is simple. If someone urges you to move money fast, stop. Call your bank using a number you already trust.

The summary does not say how large total fraud losses are. It also does not say what customer guidance banks plan to offer. The findings come from executives, not from customers.