Scams Soar to Record High in US: $15.9 Billion Lost Last Year

A record $15.9 billion in losses was reported to the Federal Trade Commission last year, a 25% increase from 2024.

The Associated Press and FRONTLINE investigation found that despite efforts by the Trump administration and Congress, scam victims still have little recourse.

58 victims were interviewed for the investigation, which revealed that virtually no one is immune to scams, with 98% of Americans suspecting they've been targeted.

The rise of cryptocurrency has helped fuel scams due to its anonymous nature and lack of federal insurance, making it difficult to track down scammers.