Scams in the United States have reached record levels, with victims losing billions of dollars while often receiving little help recovering their money. Americans reported a record $15.9 billion in scam losses in 2025, a 25% increase from the previous year. However, the actual losses are believed to be far higher, as many victims do not report scams due to embarrassment or fear.
According to the Associated Press, the Federal Trade Commission estimated that actual scam losses in 2024 were close to $200 billion, equivalent to about $550 million every day. The growing use of artificial intelligence and cryptocurrency has made scams more sophisticated, scalable and difficult to trace. AI enables fraudsters to create convincing messages, identities and other deceptive content, while cryptocurrency can make it harder to identify where stolen money ultimately goes.
A survey by the Associated Press-NORC Center for Public Affairs Research found that 98% of Americans believe they have been targeted by scammers, with many encountering scam attempts regularly. About three in 10 said they had personally lost money or information to scams.
The scale of the problem was also reflected in interviews with 58 scam victims aged 32 to 90. Their losses ranged from several thousand dollars to as much as $4 million. Many said they felt abandoned after reporting the crimes to authorities. Only one victim interviewed recovered some money, through a settlement with her bank.
Victims can also face financial consequences even after the initial theft. People who withdraw money from retirement accounts after being manipulated by scammers may still face tax bills on those withdrawals. In one case, a retired nurse who was tricked into sending more than $200,000 to a scammer later received an $80,000 tax bill.
Law enforcement agencies are struggling to keep pace. The FBI receives nearly 3,000 internet crime complaints every day through its IC3 reporting system. A retired FBI official estimated that only around 10% to 12% of reported IC3 cases are investigated.
The US government has begun taking steps to tackle the problem. The Justice Department’s Scam Center Strike Force has said it restrained $832 million in cryptocurrency linked to Chinese transnational criminals, although authorities have not disclosed how much, if any, has been returned to victims.
With scams becoming increasingly sophisticated, the growing challenge is not only stopping fraud but also ensuring that victims can recover their money and receive meaningful support.
