Huge Surge in 2021 Social Media Scams, Says FTC


FTC: Americans lost $770 million from social media fraud surge

In its latest Consumer Protection Data Spotlight, the Federal Trade Commission (FTC) says 2021 was a banner year for social media scammers, with $770 million in social-media–originated fraud losses reported to the agency. The more than 95,000 people who reported losing money to social-media–related fraud represent more than 25% of all fraud loss last year, according to the FTC.

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