FTC Calls Out Targeted Ads for Social Media Scams

Nearly $770 million was reported lost in 2021 to frauds initiated on social platforms

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Cases of fraud and scams on social media nearly doubled in 2021 from 2020, according to a report by the Federal Trade Commission. More than 95,000 people reported about $770 million in losses to fraud schemes like ecommerce scams initiated on online platforms.

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