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

Americans lost an estimated $2.1 billion to scams originating on social media platforms in 2025, according to a new report released by the Federal Trade Commission. The agency noted that financial losses linked to social media scams have increased eightfold in recent years and now exceed those from any other method scammers use to reach consumers.

The data shows that nearly 30% of individuals who reported losing money to scams said the fraud began on social media. Among platforms, Facebook accounted for the highest number of reported losses, with WhatsApp and Instagram ranking behind it. Reports also indicate that losses tied to Facebook alone were greater than the combined losses from scams conducted through text messages or email.

The FTC found that social media scams take multiple forms, with shopping scams being the most frequently reported category. More than 40% of those who lost money said they had purchased items advertised online, including clothing, cosmetics, car parts, and even pets. Many of these advertisements directed users to unfamiliar websites, while others led to fraudulent versions of well-known brands offering steep discounts.

Investment-related scams were another major category, accounting for $1.1 billion in losses. These schemes often begin with advertisements or posts promoting investment opportunities or offering to teach trading strategies. In some cases, scammers pose as financial advisers or create messaging groups filled with fabricated testimonials to build credibility before directing victims to fraudulent investment platforms.

Romance scams also remain a significant concern. Nearly 60% of individuals who reported losing money in romance-related schemes said the interaction started on social media. In these cases, scammers frequently tailor their approach based on a person’s profile, later introducing fabricated emergencies or financial opportunities to solicit money.

The FTC recommends several steps to reduce the risk of falling victim to such scams. These include limiting the visibility of personal information and contacts on social media accounts, avoiding financial advice from individuals met online, and carefully researching sellers before making purchases. The agency also advises consumers to verify businesses by searching their names alongside terms such as “scam” or “complaint” to identify potential warning signs.