FTC reports social media scams caused more than $90 million in losses in 2025
Shopping scams were the most reported type, and the FTC said Facebook, WhatsApp and Instagram accounted for most reported losses.
- The Federal Trade Commission reported that social media scams caused more than $90 million in losses last year, with shopping scams emerging as the most frequently reported type of fraud.
- Nearly 30% of consumers who reported losing money said scams began on social media, while nearly 60% of romance scam victims reported their encounters originated on those platforms.
- Federal regulators shut down Credit Glory, a network of 17 related companies, for allegedly scamming consumers out of nearly $200 million, and Financial Education Services for an alleged $213 million pyramid scheme.
- Iowa Attorney General Brenna Bird partnered with Meta to launch a public service campaign providing tools for law enforcement and consumers to identify and remove bad actors from online platforms.
- Since platforms do not always vet advertisers, the Federal Trade Commission advises consumers to verify companies by searching names alongside terms like 'scam' or 'complaint' before engaging with online ads.
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FTC warns of social media ad scams
(CNN)– The Federal Trade Commission is warning social media users about fraudulent ads. It says consumers reported losing more than $95 million dollars to the ads last year. The commission says platforms don’t always vet companies that advertise with them. That allows scammers to place links to faux retail sites where shoppers pay money for items they never receive. The...
FTC Halts Alleged $200 Million Credit Repair Scam That Targeted Military Members
A federal court has temporarily shut down Credit Glory, a network of 17 related companies the FTC alleges scammed consumers out of nearly $200 million through a credit repair scheme that impersonated debt collectors and charged illegal upfront fees — including, in some cases, specifically targeting military servicemembers. According to the FTC’s complaint, filed in […]
FTC reports social media scams caused more than $90 million in losses in 2025
The Federal Trade Commission has reported that social media ad scams caused more than $90 million in losses last year.Nearly 30% of people who reported losing money said this began on social media. The FTC said this was an eightfold increase since 2020.Reports also indicated that people reported losing more money to scams on Facebook than any other social media platform.WhatsApp and Instagram were right behind the platform.According to the FTC, …
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