From January 2022 to September, around 131,409 instances of scams made with social media were reported. Around twelve percent of reported scams occurred through social media, but most of the money was made through this medium compared to other ways.
According to the data shared by the Federal Trade Commission, there were about 136,553 cases of scams in which apps and websites were used, this put the web and app in second place which made a loss of $692 million for consumers from January to September 2022.
In the third position, stands the scams made by calling different people’s phone numbers. As per the FTC data, 229,494 cases of scams were recorded from January to September 2022 which resulted in a loss of $590 million for consumers.
Email fraud is in the fourth position, with 195,571 reported cases from January to September of 2022, resulting in a loss of $309 million for victims.
Frauds made by text messages ranked in 5th place, resulting in a loss of $231 million for victims. Most of the reports were of scams by text messages. It should be noted here that nearly 252,647 cases were reported from January 2022 to September 2022 making this type the least lucrative for scammers.
Cybercriminals also used adverts that just pop up during browsing or scrolling. Although the FTC recorded only 27,678 instances of…
