US Scam Industry Reaches Record High Amid Billions Lost

Scams have reached an all-time high in the US, resulting in billions of dollars lost by Americans. The Federal Trade Commission reported a record $15.9 billion in losses last year, a 25% increase from 2024, with estimated real losses reaching nearly $200 billion.

The surge in scams is largely due to advances in artificial intelligence and cryptocurrency, allowing scammers to operate at an unprecedented scale and sophistication. Ninety-eight percent of Americans suspect they have been targeted by scammers, many every day, according to a poll conducted by The Associated Press-NORC Center for Public Affairs Research.

Victims often face ridicule and stigma from friends and family, mounting pressure from banks and lenders, additional taxes, dismissive law enforcement, and neglect from the government. Many feel abandoned by a lack of support after reporting the crimes to authorities.