Americans Lose $2,100,000,000 in One Year As Social Media Scammers Hack Accounts, Target Victims With Ads: FTC
Americans Lose $2,100,000,000 in One Year As Social Media Scammers Hack Accounts, Target Victims With Ads: FTC
New data from the Federal Trade Commission (FTC) reveals that Americans lost over $2.1 billion to scams originating on social media platforms in the past year. Nearly 30% of reported scam victims stated that the fraudulent schemes began on social media, making it the leading medium for such losses.
US regulators say people lost more money on scams perpetrated using social media than through any other medium last year. New data based on reports to the Federal Trade Commission (FTC) show that in 2025, nearly 30% of the people who lost money to a scam said that the scheme started on social media. Losses […]
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