Americans are losing billions of dollars to scams that begin on social media, according to new data from the Federal Trade Commission released on April 27.
In 2025, nearly 30 percent of people who reported financial losses from scams said the fraud started on a social platform. Total reported losses reached a staggering $2.1 billion. That marks an eightfold increase since 2020—making social media the most lucrative contact method for scammers, far surpassing email, text, or other channels.
The scale of the problem reflects how social media makes it easy for criminals to find and target victims. Scammers can hack accounts, study users’ posts to personalize their approach, or even purchase ads—using the same sophisticated targeting tools as legitimate businesses to reach people based on age, interests, and shopping behavior….