Social Scams Surge: $2.1B Lost via Platforms in 2025

Social media has now become the world’s largest hub of financial fraud. The United States Federal Trade Commission (FTC) reported that in 2025 alone, consumers lost $2.1 billion (more than Tk 24,000 crore in Bangladeshi currency) due to scams across various social media platforms. Over the past five years, the rate of such fraud has increased nearly eightfold.

In a report published on Tuesday (28 April), the FTC stated that at least one in three victims said their ordeal began on a social media platform.

Why Facebook is the biggest target

The report shows that in terms of financial losses, Facebook ranks at the top among all platforms. Compared to WhatsApp or Instagram, scams originating on Facebook have resulted in higher monetary losses for consumers. In fact, fraud conducted through Facebook exceeds that of traditional text message or email scams.

According to analysts, Facebook’s widespread popularity among adults has made it a prime target for scammers. Older users, in particular—who rely heavily on family, friends, or local buying and selling groups—are more vulnerable to such traps.

How these scams operate

Scammers exploit the built-in design and features of social media platforms. Key tactics include:

• Targeted advertisements: Fake offers or investment opportunities aimed at specific groups.
• Account hacking: Taking over known accounts to request money under the guise of assistance.
• Impersonation: Creating fake profiles of well-known brands or individuals to mislead users.
• Romance scams: Building fake relationships to extract money emotionally.

Which sectors suffer the most losses

1. Investment scams: The highest losses in 2025—$1.1 billion—occurred through fraudulent investment schemes. Scammers lure victims via WhatsApp or Facebook groups with fabricated success stories.
2. Shopping scams: The most common by volume. Consumers place orders based on attractive social media ads but never receive the products.
3. Romance scams: Nearly 60 percent of such cases originate from social media platforms, where fraudsters pose as romantic partners to deceive victims.

AI and future risks

Scammers are increasingly using artificial intelligence (AI) to generate fake messages, images, and even voice recordings. This makes it progressively harder for individuals to distinguish between genuine and fraudulent content.

FTC safety tips:

• Keep your profile as private as possible.
• Do not trust investment advice from people you meet online.
• Before making purchases via social media, search the company’s name along with terms like “scam” or “complaint” on Google to verify its credibility.

DBTech/BMT/OR