Americans lost nearly $18 billion to scams, and few get money back

A new report from Democrats on Congress's Joint Economic Committee, reported by the AP and FRONTLINE, found that no federal agency keeps a single count of scam money seized or returned. The FBI returned $336 million to victims in 2025, the FTC $1.83 billion in fiscal 2025, and the Secret Service over $770 million across two years, against nearly $18 billion in cyberfraud losses reported to the FBI last year, more than $2 million an hour. Unlike the EU, UK, Australia and Singapore, the U.S. does not hold tech, phone or financial companies liable for failing to protect customers from scams.

What to do: Treat prevention as your only real protection. Before you send money to anyone you met or heard from online, by text, or by phone, stop and call someone you trust.

Source: Associated Press, Oct 27

This story was part of The Fraud Briefing's Top 5 for the week ending November 1, 2026. Get it in your inbox every week: subscribe here. Watch the 20-second version on YouTube at @thefraudbriefing.