The Federal Trade Commission (FTC) says it received millions of fraud reports from consumers last year, as losses continue to pile up.
Testifying before the Joint Economic Committee, FTC Associate Director Lois Greisman says that in 2025, the regulator received three million fraud reports from consumers, amounting to a staggering $15.9 billion in losses.
The figure represents a significant increase from 2024, when the regulator received 2.6 million fraud reports that came with losses of more than $12 billion.
The FTC also says impostor scams were the most reported type of fraud last year. According to Greisman, consumers reported one million incidents of impostor scams last year, with losses shattering $3.5 billion.
Meanwhile, Greisman says consumers lost the most money to investment scams in 2025 to the tune of $7.9 billion and an average individual loss of $10,000.
“Indeed, reported fraud losses have increased year-over-year in the last six years and have risen nearly 430% since 2020. This trend is largely driven by a sharp increase in the number of consumers reporting large losses of $100,000 or more. These reported fraud losses are just a fraction of American consumers’ actual losses, since not every consumer who lost money to scams reported it to the FTC or to one of the FTC’s numerous data sources.
When taking underreporting into account, the FTC has estimated that the overall cost of fraud to consumers for 2024 could be as high as $195.9 billion.”
Greisman says the FTC is fighting back by pursuing aggressive law enforcement actions against entities that perpetrate or facilitate fraud and by consumer education and outreach.
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