Social media scams cost Americans billions: 5 ways to protect yourself now
Social media scams cost Americans billions: 5 ways to protect yourself now Fraud has found a comfortable home on social media. According to Federal Trade Commission data, older Americans alone lost $2.4 billion to scams in 2024, and the total across all age groups runs much higher. Scammers are flooding Facebook, Instagram, TikTok, and other platforms with fake storefronts, bogus investment offers, and impersonation attempts. Meanwhile, AI tools have made their messages and profiles more convincing than ever. Here is what is happening, why it matters, and what you can do about it. ...