Americans lost $2.1 billion to scams linked to social media in 2025, according to a new report from the United States Federal Trade Commission.

The agency said losses from these scams have risen eightfold, making social media the most costly channel used by fraudsters to reach consumers.

The report found that nearly 30 per cent of victims who reported financial losses said the scams began on social media platforms.

Facebook accounted for the highest number of reported losses, while WhatsApp and Instagram followed at a distant second and third, respectively.

Losses from scams on Facebook alone were also reported to be far greater than those from text message or email-based scams.

The FTC reports that social media scams come in many forms, with online shopping fraud topping the list last year.

More than 40 per cent of victims said they paid for products they saw in social media ads, including clothing, cosmetics, car parts, and even pets like puppies.

Many of these ads directed users to unknown websites, while others impersonated legitimate, well-known brands and lured shoppers with deep discounts that turned out to be fake.

Another widespread category of social media fraud involves investment scams, often starting with ads or posts that promise to teach people how to invest. In many cases, scammers also pose as helpful advisers or set up WhatsApp groups filled with fake success stories and testimonials.

These schemes alone accounted for about $1.1 billion in losses.
Romance scams are also significant, with nearly 60 per cent of victims in 2025 reporting that the scam began on a social media platform.

Scammers typically build trust by tailoring conversations to the victim’s profile, then later introduce a fabricated emergency that requires financial help.

In some cases, they instead steer victims toward fake investment opportunities disguised as legitimate platforms.