AI-powered scams cost Americans billions; here's why it could get worse

AI-powered scams caused Americans to lose nearly $21 billion in 2025, with older adults accounting for $7.7 billion of those losses. Scammers use AI to create personalized, hard-to-detect fraud schemes, and the cost of running scams is projected to drop 90% in two years, potentially increasing fraud activity. A proposed ReportScams.gov Act aims to establish a centralized scam reporting system.