American consumers lost a total of $2.1 billion to scams on social media last year, according to the Federal Trade Commission’s latest Consumer Sentinel Network report.That’s eight times more than what consumers lost in 2020. Social media is becoming a preferred contact method for scammers, according to the FTC. Nearly 30% of individuals who reported losing money to scams said it began on social media. The social media platform with the highest reported monetary losses was Facebook, with Americans losing $794 million to scams that began on that platform. That’s more than what people lost to text or email scams. WhatsApp was nearly half of Facebook at $425 million and Instagram was $234 million.Scammers are using social media to hack into accounts to target those accounts’ friends, as well as create fake profiles. They are also buying fake ads to lure users into purchasing items that never arrive or are counterfeit. It’s not just online shopping scams that are tricking people. Investment scams that began on social media caused the biggest reported losses at $1.1 billion. These scams often claim to teach individuals how to invest or pose as friendly financial advisors.Romance scams made up the second-highest reported losses among scams that began on social media. Nearly 60% of people who reported romance scams said they started on social media and cost Americans $298 million. Scams on social media are not targeting just one age group; they are impacting people across most age groups. Social media was the most costly fraud contact for every age group under 80 and was the most reported contact method for several age groups. Almost all age groups saw a decrease in median reported losses last year. Adults ages 80 and over saw an increase, with median losses rising from $1,650 in 2024 to $2,000 in 2025. But the FTC warns that because most scams are not reported to the government, the real losses are likely much higher. How to stay safe What the FTC recommends: Limit who can see your posts and contacts on social media.Never let someone you meet on social media guide your investment decisions, and learn how to spot investment scams.Before buying an item from an ad, check whether the company is actually offering that deal and whether anyone has filed a complaint about the deal being a scam.Learn more about how to spot, avoid, and report scams by visiting ftc.gov/scams.PHNjcmlwdCB0eXBlPSJ0ZXh0L2phdmFzY3JpcHQiPiFmdW5jdGlvbigpeyJ1c2Ugc3RyaWN0Ijt3aW5kb3cuYWRkRXZlbnRMaXN0ZW5lcigibWVzc2FnZSIsKGZ1bmN0aW9uKGUpe2lmKHZvaWQgMCE9PWUuZGF0YVsiZGF0YXdyYXBwZXItaGVpZ2h0Il0pe3ZhciB0PWRvY3VtZW50LnF1ZXJ5U2VsZWN0b3JBbGwoImlmcmFtZSIpO2Zvcih2YXIgYSBpbiBlLmRhdGFbImRhdGF3cmFwcGVyLWhlaWdodCJdKWZvcih2YXIgcj0wO3I8dC5sZW5ndGg7cisrKXtpZih0W3JdLmNvbnRlbnRXaW5kb3c9PT1lLnNvdXJjZSl0W3JdLnN0eWxlLmhlaWdodD1lLmRhdGFbImRhdGF3cmFwcGVyLWhlaWdodCJdW2FdKyJweCJ9fX0pKX0oKTs8L3NjcmlwdD4=
American consumers lost a total of $2.1 billion to scams on social media last year, according to the Federal Trade Commission’s latest Consumer Sentinel Network report.
That’s eight times more than what consumers lost in 2020. Social media is becoming a preferred contact method for scammers, according to the FTC. Nearly 30% of individuals who reported losing money to scams said it began on social media.
The social media platform with the highest reported monetary losses was Facebook, with Americans losing $794 million to scams that began on that platform. That’s more than what people lost to text or email scams. WhatsApp was nearly half of Facebook at $425 million and Instagram was $234 million.
Scammers are using social media to hack into accounts to target those accounts’ friends, as well as create fake profiles. They are also buying fake ads to lure users into purchasing items that never arrive or are counterfeit.
It’s not just online shopping scams that are tricking people. Investment scams that began on social media caused the biggest reported losses at $1.1 billion. These scams often claim to teach individuals how to invest or pose as friendly financial advisors.
Romance scams made up the second-highest reported losses among scams that began on social media. Nearly 60% of people who reported romance scams said they started on social media and cost Americans $298 million.
Scams on social media are not targeting just one age group; they are impacting people across most age groups. Social media was the most costly fraud contact for every age group under 80 and was the most reported contact method for several age groups.
Almost all age groups saw a decrease in median reported losses last year. Adults ages 80 and over saw an increase, with median losses rising from $1,650 in 2024 to $2,000 in 2025.
But the FTC warns that because most scams are not reported to the government, the real losses are likely much higher.
How to stay safe
What the FTC recommends:
- Limit who can see your posts and contacts on social media.
- Never let someone you meet on social media guide your investment decisions, and learn how to spot investment scams.
- Before buying an item from an ad, check whether the company is actually offering that deal and whether anyone has filed a complaint about the deal being a scam.
Learn more about how to spot, avoid, and report scams by visiting ftc.gov/scams.
