Social Media Scams Surge, Costing Americans $2.1 Billion in 2025
In 2025, Americans lost $2.1 billion to social media scams, marking an eightfold increase since 2020, according to a report by the Federal Trade Commission (FTC). Nearly 30% of scam victims reported that the scams originated on social media platforms, with Facebook being the most frequently cited. Other platforms like WhatsApp and Instagram also contributed significantly to the losses. The scams primarily fell into three categories: investment, shopping, and romance. Investment scams accounted for the largest financial losses, totaling $1.1 billion. Shopping scams were the most reported, with victims often being deceived by ads for products ranging from clothing to car parts. Romance scams also remained prevalent, with scammers exploiting personal profiles to gain trust and solicit money.