U.S. Scam Losses Hit $68 Billion as Banks Capture Missed Reports

U.S. estimates of consumer scam losses have traditionally relied heavily on complaints filed with federal law-enforcement agencies. Yet victims often turn first to their banks or digital payment apps to dispute transactions and may never submit a separate government report. That gap gives financial institutions a broader view of fraud activity than Washington and makes their data increasingly important to prevention, enforcement and consumer-protection policy.

A new Gallup and Stop Scams Alliance report estimates Americans lost $68 billion to scams in 2025, more than four times the $16 billion reflected in government statistics. About 80% of scam reports were submitted to banks or digital payment apps rather than federal authorities. The disparity is intensifying debate over whether financial companies should share more fraud data and assume greater responsibility for reimbursing customers who are deceived into sending money.