Americans Lost an Estimated $148 Billion to Online Scams in 2025, Report Finds

Online scams are becoming increasingly costly, with a new report estimating that Americans lost $148.2 billion to cybercrime and internet fraud in 2025. The figure, published by the Consumer Federation of America (CFA), suggests the true financial impact of online scams is far greater than official law enforcement statistics indicate.

The report highlights cryptocurrency fraud, AI-assisted scams, and investment schemes as some of the fastest-growing threats facing internet users.

Actual Losses May Be Far Higher Than Official Reports

The FBI’s Internet Crime Complaint Center (IC3) recorded approximately $20.9 billion in reported online fraud losses during 2025.

However, the Consumer Federation of America believes this represents only a fraction of total losses. Based on a federal survey showing that only about 14% of financial fraud victims report crimes to law enforcement, the organization estimates actual losses reached $148.2 billion—around 26% higher than 2024 and nearly three times the amount estimated four years earlier.

Cryptocurrency Scams Lead Financial Losses

Cryptocurrency-related fraud accounted for more than half of the losses reported to the FBI.

Victims reported losing approximately:

• $11.4 billion through cryptocurrency scams
• About 22% more than the previous year

Applying the CFA’s underreporting estimate suggests the true cost of crypto scams could approach $80.7 billion.

Scammers commonly lure victims through:

• Fake investment opportunities
• Social media advertisements
• Dating platforms
• Messages impersonating businesses or government agencies

Because cryptocurrency transactions are difficult to reverse, fraudsters can move stolen funds quickly through multiple digital wallets.

Investment Fraud Remains the Most Expensive Scam

According to FBI data, the largest reported financial losses came from:

• Investment fraud — more than $8.6 billion
• Business email compromise — around $3 billion
• Tech support scams — approximately $2.1 billion

These schemes continue to target both individuals and businesses using increasingly sophisticated tactics.

AI Is Fueling More Sophisticated Scams

For the first time, the FBI separately tracked crimes involving artificial intelligence.

During 2025, it received:

• 22,364 AI-related complaints
• Nearly $893 million in reported losses

Using the same underreporting methodology, the Consumer Federation of America estimates AI-enabled scams may have caused roughly $6.3 billion in actual losses.

Rather than creating entirely new forms of fraud, generative AI is making existing scams more convincing by enabling criminals to produce:

• Realistic voice clones
• Personalized phishing messages
• Fake documents
• Convincing online identities

These tools allow scammers to target far more victims with tailored attacks at minimal cost.

Older Adults Continue to Face the Greatest Financial Risk

Americans aged 60 and older reported the largest financial losses.

The FBI recorded:

• $7.75 billion in reported losses
• A 59% increase compared with 2024
• An average reported loss of $38,500
• More than 12,000 victims who each lost over $100,000

While younger people reported lower overall losses, fraud affecting individuals under 20 nearly tripled during the same period.

Scam Attempts Have Become a Daily Reality

A recent poll by the AP-NORC Center for Public Affairs Research found:

• 58% of U.S. adults encounter suspected scams every day.
• 92% receive suspicious messages at least once each month.

Many of these scams originate on major social media platforms, including Facebook, Instagram, and WhatsApp.

The Consumer Federation of America argues that reducing online fraud will require stronger action from technology companies, including better advertiser verification, faster removal of fraudulent content, and greater accountability for scams distributed through their platforms.

How to Stay Protected

Security experts recommend treating any unexpected request for money or sensitive information with caution.

Before responding, always verify requests through trusted contact methods you already know are legitimate, particularly if a message asks for:

• Money or cryptocurrency
• Verification codes
• Passwords or login credentials
• Immediate action under pressure

As scammers continue adopting AI and other advanced tools, maintaining healthy skepticism and verifying communications independently remain among the most effective defenses against online fraud.