"Americans reported losing $1.1 billion last year to investment scams that started on social media, often beginning with a post or ad offering a program that claimed to help people learn how to invest."
"More than 40 percent of Americans who lost money through a social media scam last year blamed shopping-related ads, many of which took them to 'unfamiliar websites.'"
"The FTC offers advice on how to protect yourself from social media scams, such as limiting the reach of your posts and avoiding letting someone you have met only on social media direct your investment decisions."
"In 2025, it was reported that Meta was making billions of dollars from ads promoting scams and illegal products."
In 2025, Americans reported losing at least $2.1 billion to scams originating on social media, according to the FTC. Investment scams accounted for $1.1 billion of these losses, often initiated through misleading posts or ads. Over 40% of victims cited shopping-related ads leading to unfamiliar websites. Facebook was the primary platform for these scams, with Meta facing a lawsuit for misleading users. The FBI reported nearly $21 billion lost to internet-related crimes, with significant losses attributed to cryptocurrency and AI scams. The FTC advises caution and research before engaging with online offers.
Read at Engadget
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