Social Media Scams Have Exploded Since 2017, FTC Says
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Social media-based scams have exploded over the last five years, according to the FTC.
Last year, more than $770 million was lost to fraudulent scams that originated on social media. That’s 18 times higher than in 2017, when $42 million was scammed.
More than 95,000 people were duped in 2021, mostly through investment or online shopping scams.
Losses from social media-initiated scams up 18-fold since 2017, FTC says https://t.co/hnpOkffplH
— 10TV (@10TV) January 28, 2022
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