New CommBank research reveals nearly one in three scam victims (30%) initially suspected something was wrong – but went ahead anyway, highlighting how modern scams are designed to override instinct in moments of pressure.
The research, conducted by CommBank’s Behavioural Science Centre of Excellence, explored why awareness and good intentions don’t always translate into safer behaviour – and why people sometimes act even when something feels off.
Scams are increasingly exploiting how people make decisions – using urgency, familiarity and a sense of opportunity to override suspicion and push people to act despite doubt.
CommBank’s Executive General Manager for Scams and Fraud, James Roberts, said the findings challenge the stereotype that scam victims are simply careless or uninformed.
“Scams don’t just work because people miss the warning signs – often people sense something is off, but the scam is designed to push them to act anyway,” Mr Roberts said.
“Scammers are no longer just trying to trick people – they’re targeting how we make decisions. Many scams are designed to feel routine and legitimate, so people act without stopping to verify. That’s exactly what scammers rely on.
“One of the most powerful things people can do is treat that uneasy feeling as a signal. If something feels off, stop, check and verify the source before you act.”
As part of the research, participants were shown a series of mock investment ads and asked to determine whether they were scams or not. On average, participants were only 62 per cent accurate – highlighting how scams can be hard to detect.
Investment scams continue to account for the highest losses of any scam type for the third consecutive year (2023-2025), representing more than a third (38%) of all reported losses in 2025.¹
To help Australians spot these scams in the moment, CommBank has launched a new investment scams educational video showing how scammers operate and what to watch for.
Further insights from CBA research
Participants were more likely to spot obvious red flags like urgency or unrealistic investment returns, however found it harder to identify more subtle cues such as “guaranteed” returns or high levels of personalised support. The findings also suggest many people are unsure what legitimate looks like – participants were less confident identifying ads that weren’t scams vs. those ads that were.
More than half of participants who had been scammed (56%) said the scam worked because it looked legitimate – often closely mimicking trusted brands, contact details and communications.
The research also highlights a critical gap between awareness and action. Most victims (87%) did not carry out independent checks before realising it was a scam. Many said they did not verify the request because they did not think it was necessary or did not know how or where to check.
For some victims, the appeal of the opportunity itself played a role, with many reporting feelings of excitement or hope before realising it was a scam.
Encouragingly, the research shows many scams can be stopped. Most participants who successfully avoided a scam suspected something was wrong at the time – but crucially, acted on that instinct. Those who avoided scams most often did so by spotting red flags, remembering advice or warnings, or taking steps to verify the request.
Mr Roberts said talking to someone early can be one of the simplest ways to disrupt a scam.
“Stopping to check should be routine. Taking a moment to check the details and talk to someone you trust – like a friend, family member or by contacting the organisation using trusted details – can help stop a scam in its tracks,” he said.
The findings reinforce a simple message: scams don’t just rely on deception – they rely on people responding even if they’re unsure.
For Australians, the safest response may be the simplest one – build the habit to stop, check and reject.
About the research
This research was conducted by CommBank’s Behavioural Science Centre of Excellence in January 2026 and is based on a national survey and behavioural experiment with 3,157 Australians.
- 30% of scam victims suspected it was a scam but went ahead anyway.
- 56% of scam victims said the scam worked because it ‘seemed legitimate’.
- 62% average accuracy across all participants when determining if an investment advert was a scam or not.
