For weeks, the national conversation about artificial intelligence has fixated on existential questions—whether superintelligent systems could someday threaten humanity. Those concerns, raised by AI safety researchers and intelligence officials, deserve serious consideration. But while Congress debates hypothetical futures, a more immediate crisis is unfolding: AI-powered scams are emptying Americans' bank accounts right now.
According to the Consumer Federation of America, online scams and fraud cost U.S. consumers an estimated $148 billion in 2025—a nearly 26 percent increase from the prior year. That translates to more than $1,100 per household. The report also attributes over $6 billion of those losses directly to AI-enabled fraud. Older Americans are especially vulnerable: FBI data shows reported losses among those 60 and older surged more than 59 percent in 2025, averaging $38,500 per incident.
These numbers underscore a growing political and policy problem. On September 30, more than 35 consumer protection, technology accountability, and older adult advocacy groups—including the Alliance for Retired Americans and Public Citizen—launched the United to Stop Online Scams coalition. During a livestreamed National Day of Action, Sen. Mark Kelly (D-Ariz.) and Rep. Valerie Foushee (D-N.C.) joined a public service announcement that drew over 50,000 views. The coalition is pressing state and federal lawmakers to force online platforms to take responsibility for enabling fraudulent activity.
AI makes scams easier and more convincing
AI has dramatically lowered the barrier for criminals. Scammers once had to craft and send thousands of clumsy emails, hoping one would land. Now, generative AI can produce personalized messages, clone voices, and create realistic deepfake images at scale. Criminals are using these tools to impersonate loved ones in distress, promote fake Medicare benefits via fabricated videos of public figures, and tailor pitches to individual vulnerabilities.
The Better Business Bureau's latest scam tracker found that social media is the primary contact method for scams, with over 87 percent of monetary-loss reports originating on platforms like Facebook, Instagram, and TikTok. Internal Meta documents revealed the company anticipated roughly $16 billion of its 2024 advertising revenue came from scams or prohibited goods—and that scam advertisers could rack up dozens of violations before being permanently removed.
Big Tech's role in the scam economy
Advocates argue this is a business-model problem, not just a technology one. Social media platforms profit from scam advertisements, yet they place the burden of avoidance entirely on consumers. “Americans are being asked to become digital forensics experts just to navigate online spaces,” said JB Branch, director of federal AI governance and technology policy at Public Citizen. “The corporations deploying these technologies and accepting payments from scam advertisers have far more resources to implement protections—they simply aren't doing it.”
Richard Fiesta, executive director of the Alliance for Retired Americans, echoed that sentiment: “Older Americans are losing their life savings to scams that platforms could easily detect and stop. It's time for accountability.”
The coalition is calling for concrete measures: platforms should verify advertisers, detect and halt fraudulent campaigns, and immediately ban scammers—not merely suspend them or allow them to resurface under new usernames. They also want federal legislation that holds tech companies liable if they fail to take reasonable steps to prevent fraud.
Beyond existential risks: the here-and-now harm
While existential AI risks warrant government attention, the immediate harm is already widespread. Whether it's a cloned voice of a family member asking for money, a fake online romance requesting a plane ticket, or a too-good-to-be-true Facebook ad, victims often don't realize they've been deceived until their funds are gone—and shame often prevents them from seeking help.
The FBI's recent disruptions of various threats highlight the agency's broader role in combating digital crime, but consumer advocates say more proactive measures are needed. As the debate over AI policy continues, the message from the coalition is clear: the AI harm crisis is not a future hypothetical—it's happening now, and it's costing Americans billions.
