Internet Crime Losses Top $20.9 Billion as Local Officials Warn of Scams

Americans reported more than $20.9 billion in internet crime losses in 2025, according to the latest FBI Internet Crime Complaint Center (IC3) report. Investment and cryptocurrency scams caused the greatest financial losses, while adults aged 60 and older suffered the highest reported losses at $7.7 billion. Complaints to the FBI’s IC3 increased 37% and reported losses rose 59% compared to 2024.

Sheridan Media invited First Federal Bank and Trust Executive Vice President of Technology and Security Tyler Neeriemer, Payments Risk and Operations Specialist Jessica Cunningham and Sheridan County Undersheriff Lt. Doug Sanders to appear on Public Pulse to discuss scams and fraud schemes commonly seen in the Sheridan region.

Many scams begin with phishing attempts. Neeriemer said they often start with a text message or email prompting the recipient to take immediate action.

T. Neeriemer

By clicking links or calling phone numbers included in phishing messages, victims can unknowingly provide scammers access to personal information through malicious software or social engineering techniques.

Gift cards remain a common method scammers use to obtain money because the funds are difficult to trace. A 2023 AARP report found approximately 25% of adults were unaware that being asked to pay or send money using gift cards is a major warning sign of a scam.

Gift cards are not the only red flag people should recognize. Wire transfers between financial institutions can also be used to move stolen funds quickly.

One of Cunningham’s responsibilities is keeping bank tellers informed about the latest scams and fraud tactics. She said scammers often keep victims on the phone or communicating by text while instructing them to lie to bank employees trained to identify suspicious transactions.

J. Cunningham

Bank tellers and other employees cannot prevent customers from accessing or spending their own money. They can only warn customers when they believe they may be the target of a scam.

Undersheriff Lt. D. Sanders

Neeriemer, Cunningham and Sanders agreed that any phone call, text message or email creating a sense of urgency or pressuring someone to send money immediately should be treated as a major warning sign.

The Sheridan County Sheriff’s Office tracks numerous scam techniques used to steal money and personal information. Anyone who believes they may be the target of a scam is encouraged to contact the Sheriff’s Office for assistance. Click here. 

Sheridan Media will have more stories featuring the interview with First Federal Bank and Trust Executive Vice President of Technology and Security Tyler Neeriemer, Payments Risk and Operations Specialist Jessica Cunningham and Sheridan County Undersheriff Lt. Doug Sanders.