US consumers face record scam losses amid rising fraud and new legislative push

Recent surveys show that most Americans are repeatedly targeted by scams, with 58% reporting daily suspicious calls, texts or messages and about one‑third having been scammed personally. Approximately 30% say someone they know has lost money to fraud, and older adults are hit hardest, with seven in ten over age 60 receiving daily scam attempts.

The Federal Trade Commission reports that imposter scams cost Americans $3.5 billion in 2025, contributing to a record $16 billion in total fraud losses, a 25% jump from the previous year. Scammers often pose as banks or government agencies, and many victims do not report the fraud to authorities.

In response, bipartisan lawmakers introduced the American Innovation and Choice Online Act (AICOA), aimed at curbing fraud‑laden advertisements on major tech platforms and reducing the power of dominant online companies that enable international fraud cartels.