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

The Consumer Federation of America estimates Americans lost about $148.2 billion to online scams last year.

That is roughly seven times the amount reported to the FBI, suggesting heavy underreporting by victims.

Crypto fraud, investment scams, business email compromise, and tech support scams were among the biggest loss categories.

Scammers are increasingly using AI tools and Meta platforms such as Facebook, Instagram, and WhatsApp to target victims.