Social Media Scams Are Costing Americans Billions: How to Protect Yourself
Social Media Scams Cost Americans Billions: Here’s How to Protect Yourself Fraud has increasingly moved from email inboxes to social feeds. According to the Federal Trade Commission, older Americans alone lost $2.4 billion to scams in 2024, much of it originating on Facebook, Instagram, and TikTok. These platforms have become the top vector for fraud because scammers can create fake profiles and ads quickly, often bypassing automated checks. While platforms have added reporting tools, users still need to take their own precautions. Below is a breakdown of the most common schemes and practical steps you can take to avoid losing money or personal data. ...