FTC reports consumers will lose $2.1 billion to social media fraud in 2025

Americans lost $2.1 billion to social media fraud in 2025, according to a new report from the Federal Trade Commission (FTC). The agency reports that losses from social media fraud have increased eight times, with more losses from social media fraud than from any other method used by fraudsters to contact consumers.

Almost 30% of people who reported losing money to a scam said the scam started on social media. More people reported losing money to a scam on Facebook than on any other social media platform, with WhatsApp and Instagram ranking a distant second and third. Additionally, people report losing far more money to fraud on Facebook alone than they do to text or email scams.

According to FTC data, social media fraud comes in many forms, including shopping fraud, which was the most commonly reported type of social media fraud last year. More than 40% of people who lost money to social media scams said they ordered products they saw advertised, from clothing and cosmetics to car parts and even puppies. Many of these ads directed users to unfamiliar websites, while others directed users to fake sites for well-known brands offering deep discounts.

Another common type of social media scam involves investment schemes that begin with advertisements or posts that promise to teach you how to invest. Other scammers pose as friendly advisors or create WhatsApp groups filled with fake testimonials. This type of investment fraud resulted in losses of $1.1 billion.

Additionally, nearly 60% of people who reported losing money to romance scams in 2025 said romance scams started on social media platforms. Scammers often tailor their sales pitch to a person’s profile and then fabricate a crisis that requires money later on. Or they will casually offer investment advice and redirect you to a fake investment platform.

The FTC advises users to protect themselves from social media scams by limiting who can see their posts and contacts, never allowing people they meet online to dictate their investment decisions, and carefully vetting products by researching companies and searching their names with the terms “scam” and “complaints” before making a purchase.