Introduction
Consumers face a dynamic and complex financial landscape, shaped by cost‑of‑living pressures and evolving risks, including scams and frauds. These challenges, combined with consumer vulnerabilities such as low financial literacy and high levels of debt, threaten households’ financial well-being. Risks stemming from the conduct of firms, such as unclear disclosures or poor financial advice, may heighten these challenges.
The Consumer Finance Risk Monitor 2026 examines trends and challenges affecting financial consumers in 60 jurisdictions, and discusses responses for policymakers, regulators and supervisors.
Key figures
85%
of responding jurisdictions report that financial scams and frauds are a top risk facing consumers
63%
of responding jurisdictions identify high levels of consumer debt as a significant risk
78%
of responding jurisdictions see cryptocurrencies and digital assets as a source of potential consumer detriment
Financial scams and frauds are the biggest risk facing financial consumers
Financial scams and frauds are the most significant risk facing financial consumers and they are expected to increase in 2026. The most common types of scams and frauds are phishing (scams sent via email), vishing (via phone call) or smishing (via SMS) for personal data, fraudsters posing as financial service providers, fake payment and insurance schemes, and debit or credit card fraud. Increasing digitalisation, including the use of generative AI to produce highly convincing and realistic scams and frauds, has heightened this risk.
High levels and the cost of consumer debt are key risks for households
High levels of consumer debt is a key risk for household financial resilience, with many jurisdictions expecting it to rise in 2026. Some consumers rely on credit for everyday expenses, increasing financial stress. Digital lending and new products such as Buy Now Pay Later, along with high credit limits and unclear fees, may increase the risk of overspending or mask true borrowing costs. Fees and charges associated with consumer credit are a major source of complaint. These trends highlight the need for responsible lending standards, effective supervision and targeted financial education.
Digitalisation brings many benefits, but also new risks
Digitalisation is reshaping finance, creating both new opportunities and new risks. It can deepen financial exclusion for people with low digital or financial skills, as online only services and branch closures leave older, rural and less connected consumers behind. Digital product design may be confusing, use manipulative nudges or rely on opaque algorithms. Limited human support or unreliable AI-powered assistance can present further challenges. Growing product complexity may also widen knowledge gaps between providers and consumers, especially in the context of digital assets such as cryptocurrencies.
The rise in complaints highlights key consumer concerns
The number of consumer complaints received by supervisory authorities increased in 70% of jurisdictions between 2024 and 2025, while complaints received by firms and alternative dispute resolution schemes increased in around 50%. The top types of complaints were scams and frauds, fees/charges or poor value for money, debt collection, claims handling and contractual clauses, lack of disclosures, and fund withdrawals.