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

Emma Fletcher / Federal Trade Commission:

One in four people in the US who reported losing money to fraud from January 2021 to June 2023 said the contact started on social media, causing $2.7B in losses  —  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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