People told the FTC they lost $15.9 billion to fraud in 2025, the most on record, across 3 million reports. Most losses never get reported, so the real figure is higher. Most scams follow the same script, though, and once you know it you can avoid financial scams before any money moves.
The scams costing people the most right now
The FTC’s 2025 numbers show where the money goes:
- Investment scams caused the biggest losses: $7.9 billion. They often start on social media or a dating app, move to a messaging app, and end on a fake trading or crypto site that shows your “profits” growing until you try to withdraw.
- Imposter scams were the most reported, with more than 1 million reports and $3.5 billion lost. The caller or texter claims to be your bank, the IRS, Social Security, Medicare, a utility, or a relative in trouble.
- Bank impersonators caused the highest losses among business imposters. The scam usually opens with a fake fraud alert, then a “security team” tells you to move your money to a “safe” account to protect it. That account belongs to the scammer.
- Social media was where nearly 30% of money-losing scams started in 2025, with $2.1 billion reported lost.
Four warning signs, whatever the story
The FTC boils almost every scam down to four signs. If you see even one, stop.
- They pretend to be someone you trust. Caller ID and email names are easy to fake, so a familiar name on the screen proves nothing.
- They bring up a problem or a prize. You owe back taxes, your account is locked, a grandchild is in jail, or you won something but have to pay a fee to collect it.
- They rush you. Stay on the line, don’t tell anyone, act within the hour or face arrest, a lawsuit, or a frozen account. Scammers push because thinking it over is what breaks the scam.
- They tell you exactly how to pay. That’s the most reliable sign of all.
The payment methods that give it away
Real agencies and companies bill you and accept normal payments. Scammers ask for methods that are fast and hard to reverse:
- Gift cards, especially when they ask you to read the numbers off the back
- Wire transfers through services like Western Union or MoneyGram
- Cryptocurrency, including cash deposited into a crypto ATM
- Payment apps such as Zelle, Venmo, or Cash App
- A check they send you, which you’re told to deposit and then send part of the money back. The check bounces days later, and you owe the bank the full amount.
No government agency will ask you to pay with a gift card or crypto. Your bank will never ask you to move money to protect it. The FTC says it will never demand money, make threats, or tell you to transfer funds.
How to check a call, text, or email before you act
- Hang up or stop replying. You don’t owe anyone a response in the moment.
- Find the contact details yourself. Use the number on your card, a statement, or the company’s official website. Never use a number or link from the message.
- Talk to someone you trust before you pay or share anything. Scammers ask you to keep it secret because a second opinion usually ends the scam.
- Check investment offers before you put money in. Any promise of guaranteed or unusually high returns is a red flag. You can look up a broker or adviser on FINRA BrokerCheck.
- Block and filter. Turn on your phone’s spam call and text filters, and don’t click links in unexpected texts, even ones that look like delivery or toll notices.
If you already paid or shared information
Speed matters, because some payments can be stopped only in the first hours.
- Call the company you paid through right away. Your bank for a wire or debit, the card issuer for a credit card charge, the gift card company for gift cards, and the app’s support for Zelle, Venmo, or Cash App. Ask them to stop or reverse the payment.
- Secure your accounts. Change passwords, turn on two-factor authentication, and sign out of other devices if you gave anyone a login or a code.
- If you gave out your Social Security number, freeze your credit at Equifax, Experian, and TransUnion. It’s free, and it blocks new accounts in your name. Our identity theft recovery guide walks through the first 24 hours step by step.
- Report it at ReportFraud.ftc.gov. For identity theft, use IdentityTheft.gov, which gives you a recovery plan and prefilled letters. Online scams can also go to the FBI at ic3.gov.
- Watch for recovery scams. After a loss, people often get calls offering to get the money back for a fee. That’s a second scam aimed at the same victim.
If the fraud involves a credit card you still have, see how to handle credit card fraud for disputing the charges.
Report it even if you didn’t lose money
Reports help the FTC and other agencies spot new scripts and build cases. In fiscal year 2025, the FTC obtained more than $1.8 billion in relief for consumers. A report takes a few minutes, and a near miss counts too.
Being targeted doesn’t mean you were careless. These scripts are tested on thousands of people and built to work on anyone who is busy, worried, or trying to help someone. When a message pushes you to pay fast in an unusual way, stop and check it yourself. For more tools, see the Credit Center and the Resources page.
Revised: September 2026
Sources
- FTC: FTC testifies before the Joint Economic Committee on agency’s efforts to combat fraud (March 2026)
- FTC: People reported losing $3.5 billion to imposter scams in 2025 (June 2026)
- FTC: People have lost billions to social media scams (April 2026)
- FTC Consumer Advice: How to avoid a scam
- FINRA: BrokerCheck
- FTC: IdentityTheft.gov
This article is general education, not financial, legal, or tax advice. Your situation may differ, so check the details with the lender, agency, or a qualified professional before you act. How we research and review articles.
