Bank fraud impacts people across ages, identities, and income levels, with major losses tied to scams aimed at accessing or moving funds. In 2023, the FBI’s IC3 logged 880,418 cybercrime complaints with losses above $12.5 billion—many involving bank-focused schemes such as identity theft and business email compromise. Here you’ll see who is most targeted, where activity concentrates by state, and which fraud types and payment methods (wire transfers, checks, and card-not-present) drive the biggest losses.
Key Takeaways
- Over 60 age group 25% of IC3 bank fraud victims 2023
- Females 57% of FTC identity theft bank victims 2023
- Millennials (25-40) 35% of ATO banking victims (Javelin)
- Total US bank fraud losses exceeded $10 billion in 2023 according to IC3 data
- BEC scams caused $2.9 billion in losses in 2023, primarily bank wire transfers
- FTC identity theft losses reached $12.5 billion in 2023, with bank accounts heavily targeted
- BEC scams accounted for 11% of all IC3 complaints but 43% of losses in 2023
- Asset misappropriation was 86% of occupational frauds, including 22% check tampering on banks per ACFE 2024
- Card-not-present fraud 74% of global card fraud losses in 2022 (Nilson)
- California had 87,037 IC3 complaints in 2023, highest for bank fraud
- Texas second with 51,429 cyber complaints involving banks 2023 IC3
- Florida 43,842 complaints, hot spot for BEC bank wires
- In 2023, the FBI's IC3 received 880,418 cybercrime complaints with associated losses exceeding $12.5 billion, many involving bank fraud schemes like BEC
- FTC reported 1,047,238 identity theft complaints in 2023, including 402,177 new accounts opened fraudulently often targeting bank accounts
- ACFE's 2024 Report to the Nations found occupational fraud incidents affected 53% of organizations, with asset misappropriation like bank billing schemes common
In 2023, U.S. bank and identity fraud losses topped $10 billion, with BEC wire scams driving most damage.
Related reading
01 · Category
Demographic Impacts23 stats
01
Over 60 age group 25% of IC3 bank fraud victims 2023
02
Females 57% of FTC identity theft bank victims 2023
03
Millennials (25-40) 35% of ATO banking victims (Javelin)
04
Low-income (<$50k) 40% elder fraud bank targets (FINRA)
05
Gen Z highest mobile bank phishing victimization 28% (FICO)
06
Small businesses 52% occupational bank fraud victims (ACFE)
07
Seniors over 70 82% romance scam bank loss victims (FTC)
08
Males 65% BEC business bank fraud targets (IC3)
09
Urban residents 60% card fraud reports (Experian)
10
Baby boomers 22% synthetic ID bank loan victims (GAO)
11
Women 62% imposter scam bank victims (BBB)
12
Self-employed 18% higher fraud risk in banking (PWC)
13
Hispanics 15% overrepresented in ID theft bank fraud (FTC)
14
College-educated 45% investment-bank scam victims (IC3)
15
Rural elderly 30% higher per capita bank exploitation (AARP)
16
Gen X executives 70% BEC wire targets (FBI)
17
Disabled individuals 3x bank fraud victimization rate (FTC)
18
Recent movers 25% higher ATO risk (LexisNexis)
19
Military veterans 12% overrepresented in check fraud scams (ABA)
20
LGBTQ+ community 20% higher romance-bank scam rates (FTC)
21
Unemployed 35% of new account fraud applicants (Javelin)
22
High-net-worth 40% corruption scheme bank targets (ACFE)
23
Immigrants 18% ID theft bank victims (FTC demographics)
Interpretation
Demographic Impacts Interpretation
Demographic impacts are clearly driving bank fraud, with the highest burden falling on Gen X? no, rather Gen Z and older adults and specific communities, such as Gen Z accounting for 28% of mobile bank phishing victims and people aged 60 and over making up 25% of IC3 bank fraud victims in 2023.
02 · Category
Financial Impact29 stats
01
Total US bank fraud losses exceeded $10 billion in 2023 according to IC3 data
02
BEC scams caused $2.9 billion in losses in 2023, primarily bank wire transfers
03
FTC identity theft losses reached $12.5 billion in 2023, with bank accounts heavily targeted
04
Global card fraud losses hit $32.48 billion in 2022 per Nilson Report
05
ACFE median loss from occupational bank fraud schemes was $145,000in 2024 study
06
UK APP fraud losses £1.2 billion in H1 2023
07
US check fraud losses doubled to $4 billion for banks in 2023
08
LexisNexis: $6.8 billion in US account takeover fraud losses 2023
09
India bank cyber fraud losses ₹1,750 crore in FY2023
10
Europol: €1.6 billion laundered through bank mules in EU 2023
11
FICO: Fraud losses on cards $43 billion projected globally for 2026
12
PWC: Average bank fraud loss per incident $5.8 million in 2024 survey
13
FDIC: $28 billion in potential fraud losses prevented by banks in 2022
14
Australia bank scam losses AUD 2.3 billion in 2023
15
Nilson: US CNP card fraud $13.55 billion in 2022
16
Verizon: Financial sector average breach cost $5.9 million including bank fraud
17
Experian: Bank fraud caused $5.2 billion consumer losses US 2023
18
Javelin: Synthetic identity fraud $20 billion annual US impact
19
IC3: Investment fraud bank-related losses $4.7 billion 2023
20
FTC: Credit card fraud losses $1.2 billion 2023, linked to bank issuance
21
ACFE: Corruption schemes median $150,000bank loss 2022
22
Juniper: Global mobile banking fraud $88 billion by 2025 projected
23
UK Finance: Authorised push payments £485 million losses H1 2023
24
Fed: RTP network fraud losses $100 million in first year
25
Sift: Banking sector fraud losses up 25% YoY to $4.5B 2023
26
BioCatch: ATO fraud $12B global banking losses 2023
27
ABA: Synthetic ID fraud $6B+ annual bank losses US
28
KPMG: Average financial services fraud $12M per case 2023
29
Cornerstone: Bank check fraud $21B attempted losses 2023
Interpretation
Financial Impact Interpretation
Financial impact is escalating fast, with US bank fraud losses topping $10 billion in 2023 and BEC scams alone driving $2.9 billion in wire transfer losses, while identity theft losses reached $12.5 billion in 2023 and UK APP fraud added another £1.2 billion in just H1 2023.
03 · Category
Fraud Types Breakdown27 stats
01
BEC scams accounted for 11% of all IC3 complaints but 43% of losses in 2023
02
Asset misappropriation was 86% of occupational frauds, including 22% check tampering on banks per ACFE 2024
03
Card-not-present fraud 74% of global card fraud losses in 2022 (Nilson)
04
Account takeover 30% of digital banking fraud per LexisNexis 2023
05
Check fraud 45% of commercial bank fraud reports in 2023 (ABA)
06
Synthetic identity fraud 20% of bank loan defaults per GAO
07
Phishing 36% of initial access for financial cyber fraud (Verizon DBIR 2024)
08
Wire transfer fraud via BEC 90% of large bank losses (IC3)
09
New account fraud 38% of identity theft complaints (FTC 2023)
10
Authorised push payment scams 70% of UK banking fraud
11
Credential stuffing 25% of ATO in banking (BioCatch 2024)
12
Loan fraud 15% of occupational schemes (ACFE)
13
Malware-based banking trojans 18% of EU attacks (Europol IOCTA)
14
Billing fraud 11% of asset schemes targeting banks (ACFE)
15
CNP fraud 85% of card losses in Europe (Nilson)
16
Elder financial exploitation 60% involves bank accounts (FINRA)
17
Money mule recruitment 40% of bank deposit fraud (FBI)
18
Romance scams 14% lead to bank transfers (FTC)
19
Investment scams 45% use fake bank brokers (IC3)
20
Check kiting 12% of check fraud variants (ABA)
21
ACH debit fraud 22% of payment fraud (NACHA)
22
SIM swap attacks 8% of mobile bank fraud (Javelin)
23
Ransomware payments laundered via banks 5% (Chainalysis)
24
Structured deposits for laundering 10% of SARs (FDIC)
25
11% share of IC3 complaints were for BEC in 2023
26
17% share of IC3 complaints were for identity theft in 2023
27
18% share of IC3 complaints were for check fraud in 2023
Interpretation
Fraud Types Breakdown Interpretation
Within the Fraud Types Breakdown, the pattern is that losses concentrate heavily in a few categories with BEC taking only 11% of IC3 complaints but driving 43% of 2023 losses, showing that high-impact fraud can be far more concentrated than complaint volume suggests.
More related reading
report visual · Comparison
Fraud Types Breakdown (IC3, 2023)
In 2023, IC3 complaints were led by Check Fraud (18%), followed by Identity Theft (17%) and BEC (11%)—a clear gap with Check Fraud holding the largest share.
18% share of IC3 complaints were for check fraud in 202318%
17% share of IC3 complaints were for identity theft in 2023
17%
11% share of IC3 complaints were for BEC in 2023
11%
source-verifiedic3.gov2023
04 · Category
Geographic Distribution24 stats
01
California had 87,037 IC3 complaints in 2023, highest for bank fraud
02
Texas second with 51,429 cyber complaints involving banks 2023 IC3
03
Florida 43,842 complaints, hot spot for BEC bank wires
04
New York 40,115 bank-related cyber complaints 2023
05
Nigeria origin of 19% of BEC bank fraud actors (IC3)
06
India reported highest cyber fraud volume in Asia with 1.75 lakh bank cases FY2023
07
UK saw £1.2B APP bank fraud losses, London epicenter
08
EU-wide banking malware from Eastern Europe 60% (Europol)
09
Australia 75k+ bank scams, Victoria state highest
10
China 40% of global phishing sites targeting banks
11
US accounts for 46% of global card fraud losses (Nilson)
12
Brazil CNP fraud highest in Latin America $2.5B losses
13
Germany 25% of EU APP fraud victims
14
South Africa bank scams up 44% 2023
15
Canada 15,000+ bank fraud reports 2023 CAFC
16
Russia-linked actors 12% of bank phishing (FBI)
17
Midwest US check fraud surge 400% (ABA regional)
18
Southeast Asia mule accounts 30% from Philippines (UNODC)
19
NYC metro 10% of US ATO attempts (LexisNexis)
20
Maharashtra India 25% national bank frauds
21
France €400M banking fraud losses 2023 highest EU
22
Mexico card skimming 20% regional fraud
23
Midwest banks 50% check fraud increase (FDIC regional)
24
Ghana 15% West Africa bank mule recruitment
Interpretation
Geographic Distribution Interpretation
Geographic Distribution data shows bank fraud is highly concentrated in the United States with California leading at 87,037 IC3 complaints in 2023 and Florida contributing 43,842 complaints as a key BEC bank wire hotspot, while actor origins also span globally with 19% of BEC bank fraud actors traced to Nigeria.
05 · Category
Prevalence And Incidents30 stats
01
In 2023, the FBI's IC3 received 880,418 cybercrime complaints with associated losses exceeding $12.5 billion, many involving bank fraud schemes like BEC
02
FTC reported 1,047,238 identity theft complaints in 2023, including 402,177 new accounts opened fraudulently often targeting bank accounts
03
ACFE's 2024 Report to the Nations found occupational fraud incidents affected 53% of organizations, with asset misappropriation like bank billing schemes common
04
Globally, payment card fraud incidents reached 1.2 billion in 2022 according to Juniper Research
05
UK Action Fraud recorded 381,000 fraud reports in 2023, with banking fraud comprising 25%
06
In 2023, BEC scams led to 21,442 complaints to IC3 with median loss of $100,000per victim targeting bank wires
07
LexisNexis Risk Solutions reported 1.4 million account takeover attempts in the US banking sector in H1 2023
08
RBI India reported 1.75 lakh cyber fraud cases involving banks in FY2023, up 300% YoY
09
Europol's IOCTA 2023 noted 20% rise in banking malware infections across EU
10
FICO reported 35 billion payment card transactions monitored in 2023 with fraud rates at 0.95%
11
ABA survey showed check fraud complaints to banks surged 336% in 2023
12
PWC Global Economic Crime Survey 2024: 45% of firms experienced fraud, 14% bank-related
13
FDIC reported 5,000+ suspicious activity reports for structured deposits indicative of fraud in 2022
14
Australian AFP cybercrime reports: 75,000 bank scams in 2023, losses $2.3B AUD
15
KPMG fraud barometer: Bank fraud cases up 25% in Q4 2023 across surveyed countries
16
Nilson Report: 541 million card-not-present fraud attempts globally in 2022
17
Verizon DBIR 2024: 15% of financial sector breaches involved bank credential stuffing
18
Chainalysis: $1.7B in crypto-bank bridge fraud in 2023
19
Better Business Bureau: 140,000+ bank imposter scam reports in US 2023
20
Experian: 1 in 20 consumers affected by bank fraud in 2023 survey
21
IC3 2022: 800,184 complaints, many bank wire frauds
22
FTC 2022: 1.1M identity thefts with 421k credit card frauds linked to banks
23
ACFE 2022: 42% corruption schemes involved bank kickbacks
24
Juniper: Mobile banking fraud attempts hit 500M in 2023
25
UK FCA: 200,000 authorised push payment fraud cases in 2023
26
FedNow SARs for fraud spiked 200% in first year
27
Sift: 40% increase in banking ATO attempts Q1 2024
28
BioCatch: 8.5 billion login attempts analyzed, 0.7% ATO rate in banking
29
Cornerstone: Check fraud up 23% in H1 2024 for banks
30
Javelin Strategy: 430,000 US account takeovers in 2023
Interpretation
Prevalence And Incidents Interpretation
In the prevalence and incidents category, bank-related fraud is appearing at massive scale, with 880,418 FBI IC3 cybercrime complaints in 2023 exceeding $12.5 billion and UK Action Fraud reporting 381,000 fraud reports in 2023 where banking fraud made up 25%.
Reference
Cite This Report
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APA
Thomas Lindqvist. (2026, February 13). Bank Fraud Statistics. Gitnux. https://gitnux.org/bank-fraud-statistics
MLA
Thomas Lindqvist. "Bank Fraud Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/bank-fraud-statistics.
Chicago
Thomas Lindqvist. 2026. "Bank Fraud Statistics." Gitnux. https://gitnux.org/bank-fraud-statistics.