Americans Lost $2.1 Billion to Social Media Scams in 2025, Up Eightfold Since 2020: FTC

According to the Federal Trade Commission (FTC), Americans lost $2.1 billion to scams perpetrated on social media in 2025, representing an eightfold increase since 2020. Nearly 30% of people who reported losing money to fraud said the scheme originated on social media, making it the leading medium for scams.

Investment scams accounted for over half the losses at $1.1 billion, while Facebook was the platform where victims lost the most money. The FTC noted that scammers exploit social media's scale and targeting tools, either by hacking accounts or purchasing ads to reach potential victims.