FTC: consumers lost $770M to social media scams in 2021, about 25% of all fraud losses for the year and up 18x from the $42M in losses reported in 2017 (Sarah Perez/TechCrunch)

Sarah Perez / TechCrunch:
FTC: consumers lost $770M to social media scams in 2021, about 25% of all fraud losses for the year and up 18x from the $42M in losses reported in 2017  —  A growing number of U.S. consumers are getting scammed on social media according to a new report by the Federal Trade Commission (FTC) …