Americans lost a staggering $2.1 billion to social media scams last year, according to the U.S. Federal Trade Commission (FTC). Scammers are increasingly targeting platforms like Facebook, with over 30% of reported scam victims saying the schemes began on social media.

Facebook outshines its competitors in terms of scam losses, with nearly $1 billion going down the drain via fake investment pitches and misleading ads. WhatsApp and Instagram come in a distant second and third respectively, but still accounted for significant financial hits.

The FTC's data reveals that shopping scams were most prevalent, with over 40% of victims ordering goods advertised on social media, ranging from clothing to car parts and even puppies. Many of these deals led to unfamiliar websites or fake pages masquerading as well-known brands.

Romance scams also saw a surge in 2025, with nearly 60% starting on social media platforms. Scammers tailor their pitches to match victims' profiles before inventing crises that require financial assistance, often guiding them towards fake investment schemes.