Beware of Spoofing Attempts Scammers are impersonating FineMark using fake caller IDs to request sensitive information. We will never ask for personal or account information over the phone.
Contact Us

FineMark Bank & Trust, a division of Commerce Bank

Skip Navigation
Skip Navigation

Menu

May 27, 2026

Social Media Scams

FineMark Bank
FineMark Bank
Social Media Scams

Social Media Scams
Recorded on May 26, 2026

We talk a lot about fraud through phone calls, text messages, and emails, but today, Americans are actually losing the most money to scams that begin on social media platforms.

According to new information from the Federal Trade Commission, Americans reported losing more than $2 billion to scams that started on social media, and that’s in 2025 alone, an 8-fold increase since 2020.

These scams often appear as normal posts, ads or direct messages. In many cases, scammers create fake profiles or hijack real accounts to make themselves appear legitimate. The FTC says the biggest categories of scams tied to social media are investment, shopping and romance scams.

Investment scams cause the greatest losses, often involving promises of fast returns or so-called exclusive opportunities. Shopping scams typically involve fake online stores or ads for products that will never arrive. And romance scams often begin with what feels like a genuine relationship before turning into requests for money.

One reason these scams are so effective is because social media gives criminals access to an enormous amount of your personal information. Your photos, your interests, your career details, even your location. It can all help scammers make their approach feel more believable.

So what can you do to protect yourself? Well, first, be cautious, really, about everything. But be cautious about clicking links or responding to unexpected messages, even if they appear to come from someone you know.

Be suspicious of investment advice from strangers online, and do your research before buying products through social media ads. That’s a tough one.

If something does feel urgent to you, emotional or too good to be true, pause before you act and consider whether it could be a scam.

Social media scams are designed to feel convincing and create emotional reactions. Before sending money, clicking a link, or sharing personal information online, take a moment to verify who you’re dealing with. And if something doesn’t feel right, trust your instincts.

At FineMark Bank and Trust, a division of Commerce Bank, we encourage clients to reach out if they ever feel uncertain about a situation involving their finances or personal information.

Read Transcript
Close

We talk a lot about fraud through phone calls, text messages, and emails. But today, Americans are actually losing the most money to scams that begin on social media platforms.

According to new information from the Federal Trade Commission, Americans reported losing more than 2.1 billion dollars to scams that started on social media. And that’s in 2025 alone, an eightfold increase since 2020.

These scams often appear as normal posts, ads, direct messages, investment opportunities, online stores or giveaways. In many cases, scammers create fake profiles or hijack real accounts to make themselves appear legitimate.

The FTC says the biggest categories of scams tied to social media are investment scams, shopping scams, and romance scams.

  • Investment scams caused the greatest losses, often involving promises of fast returns or so-called ‘exclusive’ opportunities.
  • Shopping scams typically involve fake online stores or ads for products that never arrive.
  • Romance scams often begin with what feels like a genuine relationship before turning into requests for money.

One reason these scams are so effective is because social media gives criminals access to enormous amounts of personal information. Your photos, interests, friend lists, career details, and even your location can all help scammers make their approach feel more believable.

So, what can you do to protect yourself?

  • Be cautious about clicking links or responding to unexpected messages, even if they appear to come from someone you know.
  • Be skeptical of investment advice from strangers online and research companies before purchasing products through social media ads.
  • If something feels urgent, emotional, or too good to be true, pause before you act and consider whether it could be a scam.

Social media scams are designed to feel convincing and create emotional reactions. So, before sending money, clicking a link, or sharing personal information online, take a moment to verify who you’re dealing with. And if something doesn’t feel right, trust your instincts. At FineMark Bank & Trust, a division of Commerce Bank, we encourage clients to reach out if they ever feel uncertain about a situation involving their finances or personal information.

Beacon