Report Finds Online Scam Costs Exceed $119 Billion, Far Above Official Figures
A new report from the Consumer Federation of America (CFA) estimates Americans lose a staggering $119 billion annually to online scams—more than seven times higher than official figures. While the FBI’s Internet Crime Complaint Center (IC3) reported $16.6 billion in losses in 2024 (up 33% year over year), the CFA’s analysis accounts for underreporting and […]
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