Nearly half of all reported scams now originate on social media, according to new data from Chase Bank.
Fraudsters are using platforms like Facebook, Instagram, and online marketplaces to lure victims into paying for fake products, rental properties, vehicles, home services, and more.
A major tactic scammers use is requesting payment through Zelle® or wire transfers, which offer no purchase protection—meaning victims have little to no chance of recovering their money. Other high-risk payment methods include cash, checks, cryptocurrency, and gift cards. In contrast, credit cards often provide purchase protection, allowing buyers to dispute fraudulent transactions.
Top 10 social media scams
According to the data, the most common scams involve:
- Fake ticket sales
- Rental property scams
- Fraudulent car and car part listings
- Puppy and pet scams
- Bogus furniture sales
- Electronics scams
- Moving and shipping fraud
- Fake clothing and jewelry sellers
- Scam home contractors
- Fraudulent household appliance listings
How to stay safe
To protect yourself from social media scams:
✔ Be cautious of sellers who insist on unprotected payment methods like Zelle® or wire transfers.
✔ Use payment methods with purchase protection, especially for deposits on services or large purchases.
✔ Pause before paying and ask yourself: “Am I sure this is not a scam?”
With fraud on the rise, experts urge social media users to stay vigilant—because once money is sent through unprotected methods, it’s often impossible to recover.
