One in four people in the US who reported losing money to fraud between January 2021-June 2023 said it started on social media, resulting in losses worth $2.7B (Emma Fletcher/Federal Trade Commission)

October 8, 2023

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Emma Fletcher / Federal Trade Commission:

One in four people in the US who reported losing money to fraud between January 2021-June 2023 said it started on social media, resulting in losses worth $2.7B — Scammers are hiding in plain sight on social media platforms and reports to the FTC’s Consumer Sentinel Network point to huge profits.

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