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

Consumers lost a staggering $2.1 billion to social media scams in 2025, with losses increasing eightfold, according to a report by the Federal Trade Commission. The agency reports that social media scams resulted in higher losses than any other method scammers used to contact consumers. This significant increase in losses has raised concerns about the effectiveness of social media platforms in preventing scams. The report highlights that the majority of the losses were due to online shopping scams, with consumers losing an average of $1,000 per incident. Social media scams have become a major concern for consumers, with 1 in 5 people reporting that they have been a victim of a scam. The impact of these scams can be devastating, with many consumers losing their life savings. The report found that the most common types of scams were online shopping scams, followed by investment scams and romance scams. The rise of social media scams can be attributed to the increasing use of social media platforms by consumers. Social media platforms have become an essential part of daily life, with many consumers using them to connect with friends and family, as well as to shop and conduct business. However, the anonymity of social media platforms has also made it easier for scammers to operate. What to Expect Next The Federal Trade Commission has announced plans to increase its efforts to prevent social media scams, including working with social media platforms to improve their security measures. The agency has also launched a public awareness campaign to educate consumers about the risks of social media scams. The Impact on Consumers The report found that consumers who were aged 40-49 were the most likely to be victims of social media scams, with 1 in 3 people in this age group reporting that they had been a victim of a scam. The report also found that consumers who used social media platforms to shop online were more likely to be victims of scams. Preventing Social Media Scams The Federal Trade Commission has advised consumers to be cautious when using social media platforms, and to never send money to someone they do not know. The agency has also advised consumers to use strong passwords and to keep their personal information private. The report found that consumers who took these precautions were less likely to be victims of scams. The significant increase in losses due to social media scams is a major concern for consumers and regulators. The Federal Trade Commission's efforts to prevent social media scams are a step in the right direction, but more needs to be done to protect consumers. The key takeaway from the report is that consumers need to be aware of the risks of social media scams and take steps to protect themselves, including being cautious when using social media platforms and never sending money to someone they do not know.