US Scams Reach Record High as Victims Face Financial Ruin

Scams in the US have reached an all-time high, with Americans reporting a record $15.9 billion in losses to the Federal Trade Commission last year. The figure represents a 25% increase from 2024 and is likely a massive undercount, as many victims are too embarrassed to report their crimes.

The FTC estimates that real losses in 2024 were around $200 billion, which translates to $550 million every day just in the US. This staggering amount is fueled by advances in artificial intelligence and cryptocurrency, allowing scammers to work at an unprecedented scale and sophistication.

Victims often feel abandoned by a lack of support from authorities, with many feeling ridiculed and stigmatized by friends and family. The AP/FRONTLINE investigation found that some victims even contemplated suicide, while others attempted it.