I'm sure it'll come as no surprise around here that the U.S. Federal Trade Commission report shows that scammers are taking full advantage of social media and using it scam U.S. users to a great extent. No doubt this will be replicated worldwide. The report indicated $2.7 billion in the period January 2021 to June 2023. Web and Apps is not far behind at $.2 billion, and phone calls at $1.9 billion. Email hasn't lost its shine as it's still pulling in $0.9 billion, all in the same period. No wonder it's rife.
One in four people who reported losing money to fraud since 2021 said it started on social media. Reported losses to scams on social media during the same period hit a staggering $2.7 billion, far higher than any other method of contact. And because the vast majority of frauds are not reported, this figure reflects just a small fraction of the public harm.
[
ftc.gov...]
