Imposter scams were the most commonly reported type of fraud in 2025, with Americans reporting $3.5 billion in losses, according to new data from the US Federal Trade Commission (FTC). Reported losses have increased nearly three times since 2020, and the true number is likely much higher since many scams go unreported. Losses across all types of fraud surged to $16 billion, a 25% increase compared to 2024.

“These scams lured consumers through text, phone, email, social media, search engine results and other means,” the FTC says. “Some of the costliest impersonation scams start with a fake security alert, often from a bank. People are convinced to move money to ‘protect’ it, with their losses often limited only by their available funds.”

A majority of these losses were caused by scammers who impersonated banks and governments. BleepingComputer notes that scammers have impersonated the FTC itself to trick victims into transferring money.

“Last year, people reported losing nearly $1 billion to business impersonators, with the highest reported losses to bank impersonators—and about $920 million to government impersonators, up from $866 million and $789 million respectively in 2024,” the FTC says.

While impersonation was the most common category of fraud last year, the FTC “has seen a striking increase in reported fraud losses to all types of fraud—about $16 billion was reported lost in 2025, the highest on record and an increase of about 25% compared to the 2024 figure.”

BleepingComputer has the story: FTC warns of record $3.5 billion losses to imposter scams in 2025