Last year, Americans reported losing more money to social media scams than any other type of fraud, according to a new report from the Federal Trade Commission. The agency found that losses from these scams reached $2.1 billion in 2025, an eightfold increase compared to previous years.
The FTC’s data shows that investment scams were the most costly, accounting for nearly half of the total losses. Victims were often lured by ads or direct messages promising quick profits. Other common schemes included fake online stores, romance fraud, and phishing attempts through social platforms.
Investigators note that scammers’ tactics have grown more sophisticated. They now use fake profiles, deepfake videos, and AI-generated content to appear legitimate. Many victims only realize they have been tricked after transferring money that cannot be recovered.
The report highlights a shift in how fraudsters operate. While phone calls and emails were once the primary tools, social media now dominates because of its wide reach and low barriers to entry. The FTC warns that the real number of victims is likely higher, as many cases go unreported.
Authorities urge users to verify sources before engaging with financial offers online. They also recommend reporting suspicious activity to help track and disrupt scam networks.
Source: techcrunch.com