Fake Gurus & Social Media Hype

Investment scams now spread through social media, messaging apps and fake ads featuring famous faces. Here is how big the problem is, the most common tricks and how to judge online investing advice.

A multibillion-dollar problem

The FBI’s 2025 Internet Crime Report, released in April 2026, recorded nearly $21 billion in reported losses from more than 1 million complaints. Investment fraud was the costliest category, at about $8.6 billion, much of it involving cryptocurrency. Americans over 60 reported about $7.7 billion in losses, up 37% from 2024.

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The rest of this lesson, its chart examples and quiz are part of Investing School. Start free with Stock Market Fundamentals and the first lesson in every category.