Social media scammers stole at least $770 million in 2021
from the FTC. The agency says more than 95,000 people lost $770 million to scammers who found them via social media platforms in 2021. That’s more than double the $258 million they say scammers made off with in 2020.
Romance scams have also “climbed to record highs in recent years,” according to the report. “These scams often start with a seemingly innocent friend request from a stranger, followed by sweet talk, and then, inevitably, a request for money,” the FTC says. Also prevalent are scams related to online shopping, most of which involve “undelivered goods” that were purchased as the result of an ad on social media.
“We put significant resources towards tackling this kind of fraud and abuse,” a spokesperson for Meta said in a statement. “We also go beyond suspending and deleting accounts, Pages, and ads. We take legal action against those responsible when we can and always encourage people to report this behavior when they see it.”
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