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Online fraud is a $150 billion nightmare for Americans, but most crimes go unreported

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Thanks, AI: A new study by the Consumer Federation of America (CFA) is once again reminding everyone that internet users are losing significant amounts of money to online scams. In fact, the losses are so substantial that the "official" figures provided by the FBI's Internet Crime Complaint Center (IC3) significantly underestimate the true damage inflicted on the US economy.

According to official IC3 data, US internet users reported losing around $20.9 billion to all types of online scams and cybercrimes in 2025 alone. Losses grew by 25% year over year, but they still represent only a fraction of a much broader – and far more troubling – picture. CFA applied a 7.1x multiplier to official IC3 reports, estimating that the true cost of online fraud could reach around $148.2 billion.

CFAbased its...

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