Americans reported a record $15.9 billion in scam losses last year, up 25% from 2024, but the actual total is likely far higher because many victims do not report crimes. An investigation by The Associated Press and FRONTLINE found that victims often face bank fees, tax bills, debt, stigma and limited assistance after being deceived. The Federal Trade Commission estimates real losses in 2024 approached $200 billion, or about $550 million a day in the United States. Artificial intelligence has increased scammers’ scale and sophistication, while cryptocurrency, a form of digital cash that can obscure ownership, is frequently used in investment schemes. AP-NORC polling found that 98% of Americans believe they have been targeted by scammers and three in 10 have personally lost money or information. The investigation interviewed 58 U.S. victims aged 32 to 90 who lost from several thousand dollars to $4 million; several contemplated suicide and two attempted it. Victims generally receive reimbursement only when funds are taken without authorization, not when they are tricked into approving transfers. Tax rules can also require retirees to pay taxes on money withdrawn from tax-deferred accounts and later stolen. International models in the United Kingdom, European Union, Australia and Singapore place greater responsibility on banks, telecom companies and online platforms. The United States is considering more than a dozen bills and has launched enforcement initiatives, but advocates and the Government Accountability Office say the response remains fragmented and insufficient. Investigators traced one victim’s funds to a scam compound in Myanmar, while many related operations moved after local authorities destroyed parts of the site.