Americans are losing billions of dollars to scams that begin on social media, according to new data from the Federal Trade Commission released on April 27.
In 2025, nearly 30 percent of people who reported financial losses from scams said the fraud started on a social platform. Total reported losses reached a staggering $2.1 billion. That marks an eightfold increase since 2020—making social media the most lucrative contact method for scammers, far surpassing email, text, or other channels.
