More money is reported lost to fraud that originated on social media than any other outlet, the Federal Trade Commission (FTC) reports.

From January 2021 to July 2023, social media scams led to $2.7 billion in losses.

The most frequent social media fraud happens when people are trying to make purchases on these platforms. These claims comprise 44% of all kniwn social-media fraud loss, with most claimants reporting undelivered goods, especially clothing and electronics.

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Brittney Meredith-Miller

Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].

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