Americans lost a staggering $3.5 billion to imposter scams in 2025, according to new data from the Federal Trade Commission.
Of that total, people reported losing nearly $1 billion to business impersonators, with the highest reported losses tied to criminals pretending to work for banks.
Scams often begin with fake security texts and calls claiming a bank account is compromised, tricking victims into moving money or sharing details.
Imposter scams were the most reported fraud last year, accounting for nearly one in three fraud reports and reported losses increasing nearly three times since 2020.
Overall reported fraud losses reached about $16 billion in 2025, the highest on record and up about 25% from 2024.
Government impersonators accounted for about $920 million in losses, up from $866 million in 2024.
The FTC advises consumers targeted by government impersonation scams to report them at ReportFraud.ftc.gov.
The agency says people should always verify unexpected contacts from banks or other organizations using official phone numbers or websites listed on their statements or the legitimate company’s site, and never use contact info from the suspicious message.
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