Stay Alert: What Wisconsin Residents Should Know About Social Media Scams

  • September 9, 2026
  • CoVantage Credit Union

Social media has changed the world as we know it. We can easily stay connected with friends and family across Wisconsin, from Antigo to Appleton, Wausau to Green Bay, and beyond. 

But that convenience comes with a risk: the information you share online can help scammers target you. 

According to recent data from the Federal Trade Commission, in 2025, almost 30% of people who reported losing money to a scam said that it started on social media. Even more alarming is that reported losses hit $2.1 billion. 

There are a number of ways you could be targeted on social media, and they might not all be obvious. Knowing the possibilities helps you stay alert and aware. 

Common Social Media Scams to Watch For 

  • A scammer hacking into your account to scam your friends and family 

  • Someone creating a fake profile 

  • Shopping scams 

  • Romance scams  

  • Phony job or business opportunities 

  • Fake rental home listings 

The FTC says that last year, shopping scams in particular were the most reported scam on social media. More than 40% of people who lost money to a scam via social media said it started when ordering something they had seen in an ad. Most people reported paying for items that never arrived.  

How to Keep Your Information Safe Online 

We advise you to: 

  • Review privacy settings and limit who can see your posts and contacts on social media. 

    • Why? - Scammers have less to work with if they can’t gather information from your profile. 

  • Think twice before buying something based on an ad. 

    • Why? - Do you know that the company is really offering a deal? Is it a real company? You play a role in protecting your money and information! 

Stay Safe While Staying Connected 

While social media can be a fun way to stay connected, it also requires us to be mindful of what we share and who we interact with online. Never share passwords, PINs, card numbers, account information, or verification codes in response to an unsolicited call, text or email. If you're unsure whether a communication is really from CoVantage, contact us directly. Stay alert and remember: if something seems too good to be true, it probably is.