US Scam Industry Booms to Record High, Leaving Victims With Billions in Losses

Scams in the US have reached record highs, with Americans reporting a staggering $15.9 billion in losses to the Federal Trade Commission last year, a 25% increase from 2024.

Theft and fraud scams have become increasingly sophisticated, thanks in part to advances in artificial intelligence and cryptocurrency, which are often used in investment scams and can be difficult to trace.

One victim, Simon, lost $800,000 to a scammer who posed as his online companion, Emily. After reporting the crime to local police and the FBI, Simon was contacted by another scammer offering to connect him with the Secret Service for a fee.

Virtually every American has been targeted by scammers in some way, according to exclusive polling data, with 98% suspecting they have been targeted. Many victims feel abandoned by law enforcement and are left with additional costs such as bank fees and tax bills.