Social Media Scams Have Exploded Since 2017, FTC Says

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.

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