Social Media Scams Cost Consumers $2.1 Billion
April 27, 2026 at 19:09
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✦ AI Summary
- Scam losses surged to $2.1 billion in 2025
- Social media scams represent the highest loss method
- Reported losses increased eightfold over previous years
The Federal Trade Commission (FTC) has revealed alarming statistics regarding social media scams, reporting a staggering $2.1 billion in consumer losses for the year 2025. This marks an eightfold increase in losses attributed to such scams, showcasing a troubling trend that poses significant risks to users.
Notably, social media scams have surpassed all other methods of consumer targeting by fraudsters, indicating a shift in how scammers exploit digital platforms. As relevant awareness grows, understanding the tactics used in these scams is essential for consumers to protect themselves effectively.
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