FTC examines data on frauds using social media
- 25% of fraud complaints say scam started on social media, for losses of $770,000
- Those 18-29 twice as likely to be scammed there
- More than half of investment scams started there; tops list
- Romance scams #2. More than 1/3 in 2021 found person on Facebook or Instagram
- 45% of reports about losses on social media were to online shopping; 70% never got the goods they ordered
Victim of moving scam finds her goods because she put an Airtag in the box
Scam complaints just the tip of the Iceberg? Paper by FTC economist on who scam victims report to and how often; finds that only 4.8% complain to the BBB or a government agency
National Consumers League releases top ten scams of 2021; lottery scams top the list
FBI warns that scammers are impersonating real companies on job boards; realistic looking web sites
Thought of the week. Before the American Revolution British troops posted in Boston fired on a crowd, killing several people. John Adams represented these soldiers at their trial, partly to prove that they could get a fair trial in the Colonies. In urging the jury to be fair he famously noted “facts are stubborn things.” They are indeed, and in these fractious times we need them, and those reporting issues of the day, left or right, do us no service if they bury or misrepresent them.
