FTC Reports of Social Media Consumer Scams Surge in 2020

In a Consumer Protection Data Spotlight dated October 21, 2020, the Federal Trade Commission released data for the first half of 2020, which indicates that consumer-reported scams originating on social media platforms increased threefold over the past year and rose drastically during the first two quarters of 2020. While there were several forms of reported scams, the majority related to unfulfilled orders associated with ecommerce transactions made by consumers after being prompted by ads seen on social media platforms.

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