| In this bulletin: - FTC Data Shows Big Jump in Consumer Reports about Scams Originating on Social Media
- Scams that start on social media
- Scams starting on social media proliferate in early 2020
- How to spot, avoid, and report imposter scams
FTC Data Shows Big Jump in Consumer Reports about Scams Originating on Social Media Newly released data from the Federal Trade Commission reveal that there has been a surge in reports from people who say they lost money to a scam that started on social media, including a spike of these complaints in the spring at the height of the COVID-19 pandemic.
Scams that start on social media Scammers are hiding out on social media, using ads and offers to market their scams, according to people's reports to the FTC and a new Data Spotlight. In the first six months of 2020, people reported losing a record high of almost $117 million to scams that started on social media. People sent money to online sellers that didn't deliver, to romance scammers, and for phony offers of financial help.
Scams starting on social media proliferate in early 2020 Social media can be a great way to connect with friends while the pandemic has you keeping your distance. But reports to FTC's Consumer Sentinel Network suggest that that social media websites and apps have become popular hangouts for scammers, too. Reports that people lost money to scams that started on social media1 more than tripled in the past year, with a sharp increase in the second quarter of 2020.
How to spot, avoid, and report imposter scams Imposter scams often begin with a call, text message, or email. The scams may vary, but work the same way – a scammer pretends to be someone you trust to convince you to send them money or share personal information. | 
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