Scam Epidemic: Four In 10 Americans Targeted Daily, $68 Billion Lost
By CU Today Staff —
WASHINGTON— Americans lost an estimated $68 billion to scams in 2025—more than four times the amount reported to federal authorities—suggesting the true cost of fraud is far larger than official statistics indicate, according to a new Gallup study conducted with the Stop Scams Alliance.
The report estimates that 15.1 million Americans, or 6% of U.S. adults, were personally scammed last year, with most cases never making it into federal databases.
The research argues the gap stems largely from underreporting. While 79% of scam victims said they reported the incident to at least one organization—most often their financial institution—only 13% notified the Federal Trade Commission or federal law enforcement. Gallup said complaint-based government figures therefore capture only a fraction of total scam activity.
Beyond the financial losses, the study found scams are leaving a lasting emotional impact. Nearly three-quarters of victims said the experience negatively affected their mental health or wellbeing, while 46% reported at least a moderate financial hardship and 21% described the impact as severe. Lower-income households were hit hardest, with 58% saying the scam caused moderate or severe financial hardship.
The report found scams originate across numerous channels, with online purchases (17%), phone calls (15%) and social media posts (12%) serving as the most common entry points. Once contact is made, scammers frequently shift between multiple communication methods, including phone calls, text messages and email, to build trust. Fraudulent websites collecting financial or personal information were involved in 40% of reported scams, while 12% of victims said artificial intelligence or deepfakes played a role.
Gallup said scams have become nearly universal in Americans' minds, with 98% of adults viewing them as a threat and two-thirds calling them a "major" threat. Four in 10 Americans reported encountering an attempted scam every day, and 82% said the government is doing too little to combat the growing problem. The nationally representative survey included 5,173 U.S. adults and was supported by a coalition of technology, telecommunications and financial organizations, including Navy Federal Credit Union, through the Stop Scams Alliance.
Originally reported by CU Today.