Online Scams May Be Costing Americans 7 Times More Than Reported
A new report estimates that Americans lost about $148.2 billion to online scams and cybercrime in 2025, far exceeding the $20.9 billion reported to the FBI. The Consumer Federation of America suggests the true loss is over seven times higher due to low reporting rates, with cryptocurrency scams accounting for the largest share. AI‑enabled fraud is emerging, and older adults continue to suffer the greatest financial impact.
- ▪The Consumer Federation of America estimates total scam losses at $148.2 billion, more than seven times the FBI’s reported $20.9 billion for 2025.
- ▪Crypto-related scams accounted for $11.4 billion in reported losses, and the true cost could approach $80.7 billion.
- ▪AI‑related fraud generated $893 million in reported losses, which the federation projects could be about $6.3 billion when adjusted for underreporting.
- ▪People aged 60 and older reported $7.75 billion in losses, a 59% increase from the previous year.
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| Canonical URL | https://www.cnet.com/uncategorized/online-scams-may-be-costing-americans-seven-times-more-than-reported/ |
| Publication time | 2026-07-29T00:28:41Z |
| Retrieval time | 2026-07-29T00:56:13.376Z |
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Opening excerpt (first ~120 words) tap to expand
Uncategorized Online Scams May Be Costing Americans 7 Times More Than Reported A new estimate suggests reported losses reveal only a fraction of the damage, as crypto, AI and social media make fraud easier to spread. Nelson Aguilar With more than a decade of experience, Nelson covers Apple and Google and writes about iPhone and Android features, privacy and security settings, and more. Read full bio Nelson Aguilar Read full bio July 28, 2026, 8:28 pm ET 3 min read Losses related to online scams continue to rise. Peter Dazeley/Getty Images The fake package text. The too-good-to-be-true investment offer. The stranger in your DMs who quickly starts asking for money.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at CNET.
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