Social Media Scams Cost Americans $2.1 Billion last year

To avoid being a victim of social media scams, people are advised to limit who can see their posts and contacts on social media. Also, never let someone you’ve only met on social media make your investment decisions. Americans lost $2.1 billion to social media scams in 2025, an eightfold increase since 2020, according to a report released Monday by the Federal Trade Commission. Nearly 30% of Americans who reported being a victim of a scam last year said the scam originated on social media, with Facebook most frequently being identified as the social media platform where the scam originated.Scams originating on Facebook cost people $794 million in 2025, while WhatsApp and Instagram combined for $659 million in losses.Romance scams are also popular on social media. Nearly 60% of people who were victimized by a romance scam in 2025 said it originated on a social media platform. Do you think that scams are voluntary ?