On March 25, the FTC released prepared testimony, delivered by an FTC official on behalf of the agency, before the congressional Joint Economic Committee regarding its ongoing efforts to combat fraud and protect consumers, reporting that consumers submitted 3 million fraud reports and reported $15.9 billion in losses, a “substantial” increase from the prior year. The FTC stated that combatting fraud through aggressive enforcement and consumer education remained central to the agency’s mandate. In fiscal year 2025, the FTC brought 40 law enforcement actions targeting a range of fraudulent schemes, including: (i) business opportunities; (ii) investment or other money-making scams; (iii) unlawful robocalls; (iv) technical support scams; (v) impersonation frauds; and (vi) unfair or deceptive fees.

The FTC reported that these actions resulted in more than $1.8 billion in consumer redress. The agency emphasized its focus on cross-border fraud, noting it has initiated approximately 150 cross-border enforcement actions over the past two decades and prioritized enforcement against U.S. companies that facilitate foreign schemes to cut off scammers’ access to American payment systems and communication networks. The FTC reported that imposter scams were the most frequently reported, with more than 1 million reports and $3.5 billion in losses, while investment scams accounted for the highest dollar losses at $7.9 billion in 2025.