Consumers lost $2.1 billion to social media scams in 2025, FTC reports

A staggering $2.1 billion was lost by Americans to social media scams in 2025, according to a recent report from the U.S. Federal Trade Commission (FTC). This alarming figure marks an eightfold increase in losses reported by consumers, making social media the leading platform for scams, surpassing all other methods used by fraudsters to reach their victims. The FTC's findings indicate that nearly 30% of individuals who fell victim to scams reported that the initial contact occurred on social media. Among the platforms evaluated, Facebook emerged as the most problematic, with users reporting substantial financial losses due to scams that originated there. WhatsApp and Instagram followed, but their figures were significantly lower in comparison. The data shows that scams on Facebook alone resulted in higher financial losses than traditional scams via text or email. The most prevalent type of scam reported were shopping scams, with over 40% of victims indicating they had purchased items advertised on social media, which ranged from clothing to car parts, and even pets. Many of these ads directed users to unknown websites or counterfeit versions of reputable brands promising attractive discounts. Investment scams also posed a serious threat, generating $1.1 billion in losses. These schemes often began with enticing ads or posts that promised to educate users on investment opportunities. Fraudsters would either impersonate friendly advisors or create deceptive WhatsApp groups filled with fake endorsements to lure potential victims. Moreover, nearly 60% of individuals who reported losing money to romance scams acknowledged that their interactions began on social media platforms. Scammers frequently personalize their approach, aligning their narratives with the victim's profile before fabricating crises requiring financial assistance or subtly suggesting investments in fake schemes. To safeguard against these pervasive scams, the FTC recommends that users restrict the visibility of their posts and contacts, refrain from allowing online acquaintances to influence their financial decisions, and conduct thorough research on products and companies before making any purchases, including searching for potential scams or complaints associated with the brand.