The Consumer Federation of America (CFA) estimates that online scams cost Americans almost $150 billion last year – seven times the amount reported to the FBI. CNET notes that a federal survey found that only around 14% of financial fraud victims reported the crime to any law enforcement body. Applying that ratio to the total sums reported leads to the CFA’s estimate of total losses amounting to $148.2 billion. More than half of the losses reported to the FBI involved cryptocurrency. Victims reported losing nearly $11.4 billion in crypto-related incidents, up about 22% from the previous year.