📱 Consumers lost $2.1B to social media scams in 2025, FTC says

According to a new report from the Federal Trade Commission (FTC), Americans lost $2.1 billion to scams originating on social media during 2025 —an eightfold increase compared to previous years— and those scams caused more losses than any other contact channel. Nearly 30% of people who reported losses said the scam started on a social network; Facebook was the platform with the most reports, followed far behind by WhatsApp and Instagram. In fact, reported losses on Facebook exceeded those suffered via text messages or email.

The scams mainly appear as fake shopping ads —the most reported type—: more than 40% of victims said they bought an item seen in an ad (from clothing and cosmetics to car parts or puppies) that directed them to unknown sites or knockoffs of well-known brands with supposed discounts. Investment scams were also severe: ads and posts promising to teach investing or using groups with fake testimonials caused $1.1 billion in losses. Additionally, nearly 60% of people who lost money to romance scams said the relationship started on social media.

The FTC recommends limiting who can see your posts and contacts, not letting someone known only online direct your investment decisions, and carefully verifying sellers —search for the company name along with “scam” or “complaint” before buying.

Source: TechCrunch | 📌 More info: FTC press release