Americans lost a record $3.5 billion to imposter scams in 2025, FTC data show

For the fifth year running, no fraud category generated more reports to the agency than imposter scams, which made up close to a third of all fraud complaints received. Of the approximately 1 million consumers who submitted an imposter scam complaint, roughly four in five reported no financial loss, according to CNBC. Among those who did, the median loss was $700 — though some victims lost more than $1 million.

Business impersonators accounted for nearly $1 billion in losses, with bank impersonators responsible for the largest share of that total. Government impersonators generated approximately $920 million in losses. Both figures represent increases from 2024, when the categories registered $866 million and $789 million, respectively, the FTC said.

A particularly damaging pattern starts when fraudsters send a phony bank security alert — via text, email, phone call, or social media — designed to frighten recipients into moving their money. Scammers then convince victims they must transfer funds to protect their accounts, sometimes steering them to a fake government agent who escalates the pressure. "The real risk with this is that consumers really think they are moving their money to protect it," said Patty Hsue, chief of staff for the FTC's Division of Marketing Practices. "They really move all of their funds. You're talking about bank accounts, Roth IRAs, 401(k)s."

Measured by total dollars lost, social media outpaced every other contact method, with victims reporting more than $2.1 billion in losses tied to those platforms in 2025 — a figure that has grown eightfold since 2020, according to BleepingComputer. Social media served as the initial point of contact for roughly a third of all victims who reported losing money, and losses originating on Facebook $META alone surpassed the combined total from text messages and email.

Imposter scam losses are part of a broader surge in reported fraud. Across every fraud category combined, Americans reported approximately $16 billion in losses last year — the largest annual total ever recorded and a figure roughly a quarter higher than 2024, the FTC said.

Older adults face a heightened risk. Losses of $100,000 or more among victims age 60 and older accounted for $1.6 billion, or 68%, of that group's $2.4 billion in total reported losses in 2024.

In the roughly two years since the Impersonation Rule took effect in April 2024, the agency has filed twelve enforcement actions and recovered more than $70 million on behalf of defrauded consumers, the FTC said. "The FTC will use every tool available to combat one of the most pernicious forms of fraud — government and business impersonation — and to protect the integrity of the digital economy," said Christopher Mufarrige, director of the FTC's Bureau of Consumer Protection, in a statement.

Consumers who encounter an imposter scam can report it to the FTC at ReportFraud.ftc.gov.