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

Americans lost $2.1 billion to social media scams in 2025, according to a new report from the U.S. Federal Trade Commission (FTC). The agency reports that losses from social media scams have increased eightfold, and that social media scams resulted in higher losses than any other method scammers used to contact consumers. Nearly 30% of people who reported losing money to scams said the schemes began on social media. …