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Social Media Scams Have Exploded Since 2017, FTC Says

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Social media-based scams have exploded over the last five years, according to the FTC.

Last year, more than $770 million was lost to fraudulent scams that originated on social media. That’s 18 times higher than in 2017 when $42 million was scammed.

More than 95,000 people were duped in 2021, mostly through investment or online shopping scams.

Do you consider yourself pretty good at sniffing out online scams? What are some warning signs you look for?

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