Report: Americans Lose an Estimated $148 Billion to Scams Each Year

The Consumer Federation of America estimates Americans lose $148.2 billion annually to online scams (a 22% increase vs. 2024), driven by severe underreporting and amplified by cryptocurrency involvement and AI-enabled social engineering; seniors are the most targeted group and losses are rising across age cohorts. The report highlights underreporting multipliers, $11.4B in reported crypto losses (estimated $80.7B true cost), and warns that AI, social platforms, and data brokers are increasing scam scale and precision.