--- title: More Scammers Are Using Social Media To Target Victims description: More Scammers Are Using Social Media To Target Victims --- [Securafy Knowledge Hub](https://blog.securafy.com) - [Topics](https://blog.securafy.com/#sf-cover) - [Tools](https://blog.securafy.com/#sf-tools) - [Books & Guides](https://blog.securafy.com/#sf-books) [Talk to Securafy](https://meetings.hubspot.com/securafy/strategy-call) [Topics](https://blog.securafy.com/#sf-cover) [Tools](https://blog.securafy.com/#sf-tools) [Books & Guides](https://blog.securafy.com/#sf-books) [Talk to Securafy](https://meetings.hubspot.com/securafy/strategy-call) [Knowledge Hub](https://blog.securafy.com) / IT Operations IT Operations # More Scammers Are Using Social Media To Target Victims More Scammers Are Using Social Media To Target Victims ![Randy Hall](https://blog.securafy.com/hubfs/Randy%20Hall%202.png) By Randy Hall Updated Jul 2024 2 min read Share [**](https://www.linkedin.com/sharing/share-offsite/?url=https://blog.securafy.com/2022/02/18/more-scammers-are-using-social-media-to-target-victims) [**](https://twitter.com/intent/tweet?url=https://blog.securafy.com/2022/02/18/more-scammers-are-using-social-media-to-target-victims&text=%3Cspan+id%3D%22hs_cos_wrapper_name%22+class%3D%22hs_cos_wrapper+hs_cos_wrapper_meta_field+hs_cos_wrapper_type_text%22+style%3D%22%22+data-hs-cos-general-type%3D%22meta_field%22+data-hs-cos-type%3D%22text%22+%3EMore+Scammers+Are+Using+Social+Media+To+Target+Victims%3C%2Fspan%3E) [**](mailto:?subject=%3Cspan+id%3D%22hs_cos_wrapper_name%22+class%3D%22hs_cos_wrapper+hs_cos_wrapper_meta_field+hs_cos_wrapper_type_text%22+style%3D%22%22+data-hs-cos-general-type%3D%22meta_field%22+data-hs-cos-type%3D%22text%22+%3EMore+Scammers+Are+Using+Social+Media+To+Target+Victims%3C%2Fspan%3E&body=https://blog.securafy.com/2022/02/18/more-scammers-are-using-social-media-to-target-victims) ![](https://static.hsstatic.net/BlogImporterAssetsUI/ex/missing-image.png)An increasing number of scammers are using social media to target victims and relying on social engineering tricks to convince people to part with their personal information or money.  The problem has grown serious enough that the FTC (Federal Trade Commission) has issued a formal warning to consumers. **According to a recently released FTC report:** *"More than 95,000 people reported about $770 million in losses to fraud initiated on social media platforms in 2021.  * *Those losses account for about 25 percent of all reported losses to fraud in 2021 and represent a stunning eighteen-fold increase over 2017 reported losses. Reports are up for every age group, but people 18 to 39 were more than twice as likely as older adults to report losing money to these scams in 2021.* *More than half of people who reported losses to investment scams in 2021 said the scam started on social media. Reports to the FTC show scammers use social media platforms to promote bogus investment opportunities and even to connect with people directly as supposed friends to encourage them to invest.  * *People send money, often cryptocurrency, on promises of huge returns, but end up empty-handed."* Overall cryptocurrency scams are regarded as the number one threat for investors in 2022, according to a new report from the North American Securities Administrators Association (NASAA). However, the FTC is cautioning all users to exercise caution and develop better habits when scrolling through their favorite social media platform. They recommend setting limits on who can see your posts, taking advantage of increasingly robust privacy controls, opting out of targeted advertising, and doing more due diligence on any company you plan on doing business with before buying anything from them. It's good advice in general but it is especially important now given how prevalent social media-based attacks are becoming. Tagged Under IT Operations[Cybersecurity](https://blog.securafy.com/tag/cybersecurity)Cyber RiskBusiness Continuity In This Article Need Help With Your Current Setup? Talk through your current systems, risks, and support gaps with Securafy. [Book a Strategy Call](https://meetings.hubspot.com/securafy/strategy-call) ## Join The Conversation Have a question or perspective on this topic? Add it below. ![Randy Hall](https://blog.securafy.com/hubfs/Randy%20Hall%202.png) About The Author Randy Hall · CEO & Founder Randy Hall is the CEO and Founder of Securafy, with decades of experience helping organizations make smarter, safer decisions about technology. A frequent speaker and instructor at national IT events, Randy has advised thousands of organizations, from startups and SMBs to large enterprises and U.S. government entities, on secure, practical technology adoption. He writes about the decisions business leaders are often expected to make without enough context, including cybersecurity, compliance, AI, cyber insurance, IT strategy, and business resilience. Outside the office, you’ll often find Randy on Lake Erie enjoying time on his 38-foot Chris-Craft. **Writes about:** Cybersecurity strategy, compliance, AI security, business resilience, cyber insurance, SMB risk, IT leadership [More From This Author →](https://blog.securafy.com/author/randyhall) Related Articles Business Continuity [Compliance Risk Assessment: How Downtime Impacts Your Bottom Line](https://blog.securafy.com/compliance-risk-assessment-how-downtime-impacts-your-bottom-line) When systems go down, compliance obligations don't pause—and the financial consequences ... Jul 28, 2026 Compliance [HIPAA Security Rule Changes Are Delayed To 2027: Why Healthcare Organizations Should Not Wait](https://blog.securafy.com/hipaa-security-rule-changes-are-delayed-to-2027-why-healthcare-organizations-should-not-wait) The updated HIPAA Security Rule won't take effect until 2027, but healthcare ... 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