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Fraud's Unequal Toll: Why Women Suffer More Than Men After Scams

Fraud doesn't discriminate by gender—but its aftermath does. Women battle anxiety, tighter budgets, and shattered trust, even as scams hit everyone equally. The numbers expose a hidden crisis.

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1 min read
The image shows a graph depicting the funds by gender gap focus over time. The graph is accompanied...
The image shows a graph depicting the funds by gender gap focus over time. The graph is accompanied by text that provides further information about the data.

Fraud's Unequal Toll: Why Women Suffer More Than Men After Scams

Financial fraud hits men and women at nearly the same rate, yet its lasting effects differ sharply. A new report reveals that while three in five UK adults have experienced fraud, women face deeper emotional and financial consequences. Many struggle with stress, anxiety, and a long-term loss of confidence in managing money. The study, titled The true cost of financial crime: The lasting impact of fraud on women's financial security, highlights key differences in how fraud affects genders. Women are more likely to fall for online shopping scams and card compromise attacks. Men, however, are more often targeted by email phishing and investment scams.

Younger women bear a heavier burden, with 68% reporting fraud experiences and 81% suffering psychological aftereffects. Nearly half of the women surveyed (40%) had to reduce spending or struggled with bills after being defrauded. In response, 28% changed their payment habits, and 54% now trust cash over digital transactions. Despite equal exposure to fraud, two-thirds of women feel financial institutions are failing to prevent it. Another 75% believe there is not enough education on fraud risks. Denise Johansson, Co-Founder & Co-CEO of Enfuce, stressed that equal risk does not mean equal harm. She urged institutions to strengthen fraud prevention as part of broader financial inclusion and equality efforts.

The report underscores a clear gap in how fraud impacts women compared to men. Many face lasting financial strain and emotional distress, even when the initial fraud rates are similar. The full findings are available for download, offering further insight into the uneven consequences of financial crime.

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