The FTC’s Data Spotlight report reveals that social media is the most popular method among scammers to steal people’s money.
In brief: Now that the web as we know it has been around for decades and more users are tech savvy, one might imagine that scammers have a harder time tricking people into handing over money on social media platforms. But the FTC warns that’s not the case: this year alone, users have lost more than $658 million via these networks, and the precise figure is likely to be even higher.
The FTC’s Data Spotlight report reveals that social media is the most popular method among scammers to steal people’s money.
Online shopping scams were the most frequently reported form of online robbery carried out on social networks in the first half of 2023. There were 24,650 reported incidents, or 44% of the total, most of which involved people buying clothing or electronics that don’t show up.
