The study conducted by BVA Xsight for the Financial Markets Authority (AMF) reveals an intensification of financial scams, affecting thousands of French people each year. Between 2021 and 2024, the proportion of victims tripled, reaching 3.2% of adults. This observation is accompanied by increasingly sophisticated fraud strategies, adapted to investor behavior and digital channels.
Victims with a well-defined profile
The data shows an over-representation of certain categories among victims:
- Gender and age : Men (68% of victims) and young people aged 18 to 34 (also 68%) are the most affected. These populations, more inclined to take risks, are attracted by atypical or speculative financial products.
- Trust and gullibility : 40% of victims would have confidence in technically impossible products (guaranteed savings account at 8%, etc.) and at the same time distrust traditional investments, particularly the stock market.
- Risk appetite : 81% of victims say they are ready to take risks to maximize their gains, compared to 48% for all French people.
Significant financial losses
The financial impact of scams is often heavy:
- And causes financial difficulties (33% of victims)
- Even debt situations (29% of victims)
Social networks: a major lever for scammers
Fraudsters exploit digital behaviors to maximize their impact:
- Exposure channels: 66% of victims are contacted via social networks. Platforms like TikTok, Instagram and Snapchat are widely used by scammers.
- Effectiveness of solicitations: 54% of solicitations on social networks lead to additional research, and 33% to direct interaction with potential fraudsters.
- Young audience: Social networks with a young audience (for example, TikTok and Telegram) are over-represented among victims.
Scammers’ strategies: increasing sophistication
- 1. Identity theft, an effective method
The study reveals that 86% of French people who made an investment following a request knew the actor behind the proposal. Scammers pose as reputable institutions, such as banks or financial advisors, to establish credibility.
- 2. The “scam on scam” trap
66% of victims are contacted again after a first fraud, under the pretext of recovering their funds. These requests turn out to be a second scam:
- 92% of recontacts prompt a new payment, often presented as administrative or legal fees.
- 86% of recontacted victims pay again, worsening their losses.
- 3. Scams that can involve all types of products
The study shows a great diversity of supports among the investments which ultimately turned out to be probable scams, from investments in nursing homes, parking lots and student rooms to boosted booklets, including cryptocurrencies and trading.
Act to prevent: study recommendations
- Strengthen awareness and prevention
Prevention campaigns must target the most vulnerable populations, adapting messages to the codes of social networks and influencers. The AMF, for example, has launched initiatives such as “ Scam or not? » to help the public identify fraud signals.
- Encourage reporting
Many victims are still hesitant to report scams, sometimes out of shame or lack of awareness of possible recourse. Procedures must be simplified and centralized to facilitate access to protection tools.
- Mobilize financial institutions
Banks and other financial institutions, which benefit from increased levels of trust, play a key role in educating savers. They can act as safeguards against questionable requests.
-> Read the press release from the Financial Markets Authority (AMF)
