An estimated 15 million U.S. adults, or 6% of the population, were victims of financial scams in 2025, with total losses reaching approximately $68 billion, according to a study released by Stop Scams Alliance and Gallup.
The nationally representative survey of more than 5,100 U.S. adults found that scams affected Americans across demographic groups, with reported victimization higher among lower-income adults, people of color and those without a bachelor’s degree. While losses varied widely, the median loss was $500. Nearly half of scam victims, 46%, said the experience created either severe or moderate financial hardship for their household, and two-thirds, 66%, said they were unable to recover any of the money they lost.
Beyond the financial toll, the study found a widespread emotional impact: 73% of adults whose household experienced a scam said it negatively affected their mental health or wellbeing. Qualitative interviews conducted alongside the survey found that victims frequently described feelings of stress, shame, betrayal and self-blame regardless of the amount lost, with many saying the experience affected their trust in online services, financial systems or digital communications.
The survey found scam attempts are pervasive. About one in four Americans, 24%, reported having been personally scammed at some point in their adult life, and 10% reported being scammed more than once. About four in 10 U.S. adults, 41%, said they are targeted by scam attempts daily. Victims said scams most commonly began through online purchases, phone calls or social media: 17% began with a website purchase, 15% with a phone call and 12% with a social media post, and half of all scams involved two or more communication methods.
Financial strain from scams fell disproportionately on lower earners. Households making less than $80,000 annually were significantly more likely to describe a scam as causing severe (28%) or moderate (30%) financial hardship compared with higher-earning households.
The study also found broad public dissatisfaction with government efforts to combat scams and substantial underreporting to authorities. Nearly all adults surveyed, 98%, said scams pose a threat to Americans, with two-thirds calling the threat “major,” and more than eight in 10, 82%, said the government is doing too little to prevent them.
While 79% of victims reported their scam to at least one entity, most reports went to banks or payment platforms rather than government agencies; only 13% of scams were reported to the Federal Trade Commission or federal law enforcement. Among victims who did not formally report their scam, 75% said they did not believe reporting would help them recover their money, and 64% said they did not think it would help stop future scams. Confusion about where to report was also common: 58% of respondents who didn’t report cited uncertainty about where to do so, and nearly two-thirds of all U.S. adults, 65%, said they would not know where to report a hypothetical $5,000 scam.
“Effective policy starts with reliable data,” Ken Westbrook, founder and CEO of Stop Scams Alliance, said in a statement. “That’s why Stop Scams Alliance commissioned this comprehensive survey — to provide the actionable insights needed to combat the scourge of cyber-enabled scams that are being perpetrated by sophisticated global criminal networks. We are proud to partner with Gallup, the nation’s leading public-opinion research organization, on this landmark initiative.”
The research was funded by a coalition of technology, telecommunications and finance companies and organizations, including JPMorganChase, the FINRA Investor Education Foundation, the American Bankers Association Foundation, AT&T, Checkr.org, Feedzai, Match Group, the Messaging, Malware and Mobile Anti-Abuse Working Group, Meta, Navy Federal Credit Union, Netcraft and Somos.