FTC Data Shows Consumers Report Losing $2.7 Billion to Social Media Scams Since 2021

Summary:

The Federal Trade Commission (FTC) is a government agency that enforces federal laws related to competition and consumer protection. The FTC's mission is to protect consumers and competition by preventing anticompetitive, deceptive, and unfair business practices. The agency provides various resources, including legal guidance, consumer advice, and business guidance, to help individuals and businesses comply with the law. The FTC also actively engages in law enforcement, advocacy, and education to prevent scams and promote fair competition.

The summary highlights the FTC's main goals, activities, and resources, providing an overview of the agency's purpose and scope.