The Federal Trade Commission (FTC) says it received millions of fraud reports from consumers last year, while the losses continue.
Testifying before the Joint Economic Committee, FTC Assistant Director Lois Greisman he says that in 2025, the regulator received one million fraud reports from consumers, which resulted in a total loss of $15.9 billion.
This number represents a significant increase from 2024, when the regulator received 2.6 million fraud reports that lost more than $12 billion.
The FTC also reported that fraud was the most common type of fraud last year. According to Greisman, consumers reported one million fraud incidents last year, which cost $3.5 billion in damages.
Meanwhile, Greisman estimates that consumers have lost more money in cash withdrawals in 2025 to the tune of $7.9 billion and a personal loss of about $10,000.
“Indeed, reported fraud losses have increased year over year in the past six years and have risen nearly 430% since 2020. This trend is driven primarily by a significant increase in the number of consumers who report significant losses of $100,000 or more. Many FTC data sources.
At a more conservative estimate, the FTC estimates that the total cost of fraud to consumers in 2024 could reach $195.9 billion. “
Greisman says the FTC is fighting aggressive enforcement against companies that cause or encourage fraud as well as consumer education and information dissemination.
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