Reported losses to scams on social media eight times higher than in 2020
Scammers reach people in many different ways – phone calls, texts, emails – but reports to the FTC’s Consumer Sentinel Network point to social media as a scammer favorite. In 2025, nearly 30% of people who reported losing money to a scam said it started on social media, [1] with reported losses reaching a staggering $2.1 billion. That’s far more than the losses reported to any other form of contact, and about eight times the 2020 figure. [2] And...