Report: Scams cost adults $68 billion last year

Scams cost U.S. adults $68 billion last year, according to a recent report from Gallup and the Stop Scams Alliance. That number is more than four times the $16 billion reported to federal authorities in 2025, according to Federal Trade Commission complaint data. .Most scams were reported to banks, according to the report. Nearly 80 percent reported telling at least one entity about the scam, while only 13 percent reported it to either federal law enforcement or the FTC.Online purchases, phone calls and social media were cited as the most common sources of scams. Nearly three-quarters who were hit by a scam last year said it had a negative impact on their mental health or wellbeing, with a significant number saying the emotional impacts outweighed the financial toll. Less than half said they could handle an unexpected expense of $2,000 using only savings, with one-third not being able to manage more than $500, according to the survey. Nearly one-in-four Americans have been scammed during their adult life, according to the report, while one-in-10 have been scammed multiple times. Four-in-10 are contacted by an attempted scammer daily. Six percent of adults — 15.1 million — were scammed out of money in 2025, according to the report. Victims were disproportionately likely to be lower-income adults, people of color or those without a college degree. Nearly half said their household at least “a moderate financial hardship” from being scammed, including 21 percent who reported “a severe hardship.” A majority of lower-income households said the scam created either a “severe” or “moderate” financial hardship.Of the scams reported, 40 percent involved a website where the victims put their financial or personal information, while 24 percent reported paying an advance fee for a loan, credit or other service. Nineteen percent included a fraudulent investment opportunity. Forty-two percent sent the scammer money through a payment app or service, while 31 percent did so through a credit or debit card. Two-thirds of victims were unable to recover any of the lost money. Of those who did not report being scammed, 75 percent said doing so would not help get their money bank, while 64 percent felt that reporting would not help stop future scams. Respondents cited education as a crucial factor in stopping scammers. Sixty-one percent said education through social media was the most effective way, while 55 percent cited television or radio. A little more than half said education from financial institutions was the most important.