A new study from Credit One Bank shows that Americans have lost trust in the voice on the other end of the phone. Nearly 84% of respondents have changed at least one financial behavior because of artificial intelligence scam concerns. The most visible change: Over half have stopped answering calls from numbers they don't recognize.

Over 2 in 5 respondents reported that they have encountered or been close to an AI scam, and nearly 7 in 10 say they’ve received at least one suspicious contact from a financial institution. Not only that, but nearly half won’t trust any bank communication until they call the bank back on a known number.

So if you can’t trust the person on the other side of the phone, who do you turn to?

Cloned Phone Calls Are the No. 1 Fear

Phone calls, which once signaled trust, are now the highest ranked fear in the study. When asked what concerned respondents the most, fake phone calls or voice messages cloned to sound like their bank ranked highest at nearly 24%. A close second was scam text messages that looked like real fraud alerts at almost 22%.

Cloned phone calls are based on urgency and authority, designed to make people react in the moment. The study notes that they are especially tricky as there is no link to scrutinize, no message to reread, and there is pressure to react in real time.

Confidence Does Not Equal Security

Saying that you "think" you can spot an AI scam doesn't mean you actually can, and AI scammers have gotten better as time goes on.

Credit One Bank

Gen Z reported the highest confidence, with almost 35% saying they would catch an AI scam immediately. Yet over half of the same generation also reported an AI scam encounter, with nearly 10% saying they actually lost money.

The younger generation is also the most trusting. Just over 1 in 5 Gen Z respondents said a familiar-looking phone number or email would be enough to convince them. The study gives one explanation: This generation is online more often, and therefore more likely to encounter a scam.

People Want More Intervention From Banks

Credit One Bank

People want banks to step up their accountability. When asked what would make them feel most protected, this is what respondents said:

• More than 48% chose real-time fraud alerts the moment suspicious activity is detected.
• Over 38% said stronger identity verification before transactions are approved.
• More than 33% opted for a dedicated fraud hotline.
• Nearly 30% wanted plain-language guidance on spotting AI scams.
• Almost 29% asked for regular updates on new scam tactics.

People haven’t lost trust in the banks to protect them. In fact, 58% said they mostly trust or completely trust their banks. What they do want are more safeguards around their transactions and actionable advice on how to deter AI scams before they happen.

Methodology

Credit One Bank surveyed 1,000 U.S. adults in June 2026 about their experiences with AI-powered financial scams, including their confidence in spotting them, the suspicious contacts they'd received in the past year, how their behavior has changed, and what they want from their banks. Responses were broken down by age, gender, household income, and education.

Generations were defined as Gen Z (18–29), millennials (30–45), Gen X (46–61), and baby boomers (62+). Several questions let respondents pick more than one answer, so percentages for those questions won't add up to 100%. National fraud figures come from the FBI Internet Crime Complaint Center's 2025 report.

The survey was commissioned by Credit One Bank, a credit card issuer, and its findings include majority trust in banks and credit card companies.

This story was produced by Credit One Bank and reviewed and distributed by Stacker.