Americans lost over $20 billion to one type of crime. Heres how we can fight it

Almost all kinds of crime, from homicide to car theft, are down, according to the latest FBI data.That’s great news, but one type of less-reported crime is up — way up.Americans reported losing $20.9 billion to internet-enabled crime in 2025, 26% higher than the year before and the highest figure ever recorded by the FBI.

Folks over 60 reported $7.7 billion of it, averaging $38,500 apiece.The real toll is even higher, since the Federal Trade Commission notes that most victims never make a report.

It’s clear more needs to be done to protect Americans from these crimes.But many of the losses aren’t hacks where a firewall was breached or a password stolen.They’re scams where victims are persuaded to voluntarily send money to overseas bad actors.

That’s an important distinction because a transfer that the customer has been convinced to make looks to every automated system in the chain like a legitimate one.CYBERCRIME LOSSES NEAR $21B: 5 WAYS TO PROTECT YOUR MONEYThe fact that the money leaves the country should also inform government’s response.Treasury estimates Americans lost at least $10 billion in 2024 to scam operations in Southeast Asia, a 66% increase.

These are sophisticated operations in Burma, Cambodia and Laos, many staffed by trafficked workers held in debt bondage or via violence.FBI agents review devices confiscated from scam centers (FBI)Social media has shifted these scams into overdrive.The FTC reports scams originating on social platforms cost Americans $2.1 billion last year, eight times the 2020 figure, and more than any other contact method.

Sadly, artificial intelligence (AI) is being utilized by these thieves so that they no longer need to have English proficiency or a real photograph.AI VOICE SCAMS CAN CLONE YOUR FAMILY’S VOICEWashington’s reflex for years was to try to force domestic institutions to cover the costs.In December 2024, the outgoing Biden Consumer Financial Protection Bureau sued the operator of the Zelle pay...