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Ms Rickard said the two most common social media scams reported were dating, romance and fake trader scams.
About 30 per cent of dating and romance scam victims — 1,352 people — reported they were contacted via social media sites, in particular Facebook."Dating and romance scammers trick their victims into falling in love with them and then use their victim's trust to deceitfully take their money," Ms Rickard said.
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The consumer watchdog's annual scam report also identifies a whopping 47 per cent increase in all reports it receives about scams.
It identifies a "sharp increase" in scams taking place through social media sites such as Facebook.