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Home 5 Phishing 5 FTC reports $2.7 Billion lost to scams! How to safeguard yourself

FTC reports $2.7 Billion lost to scams! How to safeguard yourself

Refundaroo is proud to stand with consumers against the rising tide of social media scams, as revealed in the recent Federal Trade Commission (FTC) report. According to the findings, Americans…...

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Publish Date

October 8, 2023
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Refundaroo Support

Refundaroo is proud to stand with consumers against the rising tide of social media scams, as revealed in the recent Federal Trade Commission (FTC) report. According to the findings, Americans have suffered losses totaling $2.7 billion from social media scams since 2021. As an advocate for consumer protection, Refundaroo is committed to aiding victims and contributing to the fight against online fraud.

The FTC report underscores the alarming prevalence of scams on social media platforms, with a significant number of cases going unreported. Emma Fletcher, a senior data researcher at the FTC, highlighted the deceptive tactics employed by fraudsters, including the creation of fake profiles and the hijacking of existing ones to target unsuspecting users and their networks.

Refundaroo recognizes the need for proactive measures to combat social media scams and protect consumers from financial harm. Our team is dedicated to assisting victims of online fraud, providing guidance, support, and resources to help them navigate the recovery process. We understand the distress and frustration that come with falling victim to scams, and we are here to offer a helping hand.

Through our platform, Refundaroo empowers consumers to take action against scammers and reclaim their losses. We offer personalized assistance tailored to each individual’s situation, guiding them through the necessary steps to report the scam, seek refunds, and safeguard their financial interests.

Here is how Refundaroo helps fight fraudsters:

  • Refund Recovery Assistance: Refundaroo offers comprehensive support to victims of social media scams, guiding them through the process of seeking refunds for fraudulent transactions.
  • Scam Reporting Guidance: Our team assists individuals in filing reports with relevant authorities, such as the FTC, to ensure that scammers are held accountable for their actions.
  • Financial Recovery Strategies: We provide personalized strategies to help victims recover their financial losses, including dispute resolution tactics and chargeback procedures.
  • Scam Awareness Education: Refundaroo educates consumers about the latest social media scam trends, empowering them to recognize red flags and avoid falling victim to fraudulent schemes.
  • Fraud Prevention Resources: We equip individuals with the knowledge and tools needed to protect themselves from online fraud, including tips on privacy settings, secure payment methods, and verifying the legitimacy of online sellers.
  • Advocacy and Support: Refundaroo advocates for stronger consumer protections and works to raise awareness about the prevalence of social media scams, advocating for policy changes to enhance online safety.

In addition to supporting victims, Refundaroo is actively involved in raising awareness about social media scams and educating consumers on how to recognize and avoid fraudulent schemes. We provide valuable insights, tips, and resources to help individuals stay vigilant and protect themselves from falling prey to online fraudsters.

As cybercriminals continue to evolve their tactics, Refundaroo remains vigilant in its mission to combat social media scams and safeguard consumers’ financial well-being. We urge anyone who has been affected by a social media scam to reach out to us for assistance.

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