The Federal Trade Commission data shows that losses to scams on social media have been increasing dramatically since 2020 – people reported losing $2.1 billion in 2025 alone. The top scams that were initiated on apps like Facebook, WhatsApp, or Instagram included shopping scams, investment scams, and romance scams. Follow these tips to avoid scams on social media:
– Limit your contacts and who can see your posts by adjusting your privacy settings.
– Never let someone you met on social media direct your investment decisions.
– Before you buy an item through social media, verify that it’s coming from a legitimate company.
– Never send money (crypto or gift cards) to someone you have never met in person.
Learn more ways to spot and avoid scams at ftc.gov/scams. If you have been a victim of a scam or spot a scam, report it to the FTC at ReportFraud.ftc.gov.
