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November 2, 2026

Global cyberscams bilk Americans out of billions

  • A fragmented government response means few get money back.
    • By ERIKA KINETZ
    Associated Press

    iStock image [enlarge]
    Americans reported cyberfraud losses of nearly $18 billion — that’s more than $2 million an hour — last year to the FBI. Many don’t even report the crime.

    The U.S. government isn't doing enough to fight the surge in cyberscams, and partnerships with the private sector remain fragmented and voluntary, an investigation into the global scam industry led by the Joint Economic Committee of the U.S. Congress has found.


     
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