Think scammers only show up in your email inbox? Think again. Social media platforms have become a major hotspot for fraud, with consumers reporting $2.1 billion in losses to social media scams in 2025 alone, according to the FTC.
Scammers are using platforms like Facebook, Instagram, and WhatsApp to target users through fake ads, phony investment opportunities, and even online relationships.
According to the Federal Trade Commission (FTC), some of the most common social media scams include:
• Fake online shopping deals. Ads promote expensive products at bargain prices, but the items either never arrive or turn out to be poor-quality knockoffs.
• Investment scams. Fraudsters promise easy money, guaranteed returns, or “secret” investing strategies to lure victims into fake investments.
• Romance scams. Scammers build trust through online relationships before asking for money or encouraging victims to invest through fraudulent platforms.
Protect yourself while scrolling:
- Keep your social media privacy settings updated.
- Be cautious of unsolicited investment advice online.
- Research unfamiliar businesses before making a purchase.
- Search a company’s name along with words like “scam” or “complaint” before buying.
To learn more about spotting scams and protecting yourself, visit cefcu.com/security. Report fraud at ReportFraud.ftc.gov.
