Online scams cost Americans almost $150B last year – 7x more than reported

The Consumer Federation of America estimates online scams and cyber fraud cost Americans nearly $150 billion last year.

That is far above official FBI-reported losses, based on survey evidence that most victims never report fraud to law enforcement.

Crypto and investment scams were the biggest drivers, while AI-powered impersonation and fake documents are making fraud easier to carry out.

The estimate suggests cybercrime is far more widespread and costly than complaint data show, and consumer risk is rising.