1 in 4 Americans Lose $8,199 From Tax-Related Phishing, Scams: McAfee

McAfee recently released findings from its 2024 Tax Scams Study by research firm 3Gem.

The study surveyed 2,500 adults across the United States, including participants from each state, to explore the impact of tax-related online scams, such as AI-generated messages and deepfake videos or audio, on Americans nationwide.

The 2024 Tax Scams Study

The results revealed variations in individuals' propensity to interact with fraudulent messages purporting to offer tax refunds or posing as tax preparation services or authorities.

This discrepancy becomes particularly noticeable as the tax filing deadline approaches, with early filers anticipating refunds and procrastinators looking for tax preparation services.

Some states are less likely to click on potentially fraudulent messages, while others demonstrate a higher propensity to engage with enticing yet deceptive links. These regional disparities highlight areas where individuals may be more vulnerable to financial or identity theft risks.

According to the study, one in four Americans (25%) reported losing money to online tax scams, with an average loss of $8,199 attributed to email or text message scams.

These figures underscore the significant financial risks associated with tax-related cyber threats during this tax season.

Steve Grobman, Chief Technology Officer at McAfee, emphasized the tactics employed by scammers to exploit taxpayers' stress and anxiety as the tax deadline approaches. These tactics include luring victims with promises of simplified filing processes, faster refunds, or urgent requests for personal information.

"On top of this, AI-generated fake tax websites and robocalls are increasingly realistic, even including features like regionally appropriate accents and speech patterns, leading consumers to trust scammers and in many cases provide them with personal information or fall for their scam," Grobman said in a press release.

Top 5 Refund Clicking Capitals

McAfee's study also identified the top five states with the highest percentage of individuals who clicked on fraudulent links related to tax refunds or statements and those who engaged with scam links from purported tax preparation software companies.

For the "Top 5 Refund Clicking Capitals," the states with the highest percentage of people who clicked on a scam link to a fake refund or statement are:

1. Alabama, Colorado, New York (tie): 94%

2. Georgia: 92%

3. Rhode Island: 91%

4. Arkansas, West Virginia (tie): 89%

5. Florida, Iowa, Texas (tie): 88%

Moreover, the "Top 5 Tax Preparation Clicking Capitals" encompass states where the greatest proportion of individuals engaged with scam links found in deceptive messages purportedly originating from tax preparation software companies:

1. West Virginia: 88%

2. Texas: 87%

3. Colorado: 74%

4. New York: 71%

5. Massachusetts and Idaho (tied): 67%