New data from the Federal Trade Commission (FTC) indicates that in 2025, nearly 30% of individuals who reported financial losses due to scams stated that these scams originated on social media, resulting in a staggering total of $2.1 billion in losses.

This figure represents an eightfold increase since 2020, highlighting the growing prevalence of social media as a medium for scammers. The FTC's Data Spotlight emphasizes that social media provides scammers with easy access to billions of potential victims worldwide, often at minimal cost.

Among the various social media platforms, Facebook was identified as the leading source of financial losses, surpassing other platforms like WhatsApp and Instagram. In fact, losses from scams initiated on Facebook exceeded those from traditional methods such as text or email scams.

The data reveals that all age groups, except for those aged 80 and over, reported higher losses from social media scams compared to other contact methods. For the elderly demographic, social media ranked second only to phone calls.

Different types of scams were reported, with investment scams causing the highest losses at $1.1 billion, accounting for more than half of the total losses from social media scams. Shopping scams were the most frequently reported, with over 40% of victims indicating they had ordered items from ads seen on social media. Romance scams also thrived on these platforms, with nearly 60% of victims reporting that their scams began on social media.

To help consumers avoid falling victim to these scams, the FTC recommends limiting the visibility of posts and contacts on social media, being cautious about investment advice from online acquaintances, and researching companies before making purchases.

For more information on identifying, avoiding, and reporting scams, as well as recovering lost funds, consumers can visit ftc.gov/scams and report any scams to the FTC at ReportFraud.ftc.gov.