Meta takes down 23,000+ Facebook pages and accounts related to investment scams
Representative image
Different types of scams to watch out for
Investment Scams : Fraudsters lure victims with promises of quick and high returns on cryptocurrency, real estate, or stocks, often posing as financial advisors on social media.
: Fraudsters lure victims with promises of quick and high returns on cryptocurrency, real estate, or stocks, often posing as financial advisors on social media. Advance Payment Scams: Scammers pretend to sell items on Facebook Marketplace, requesting payments upfront before disappearing.
Overpayment & Refund Scams: Fraudsters overpay for a product using a fake receipt, then request a partial refund, later reversing the transaction and keeping both sums.
Meta's anti-scam initiatives in India
Department of Telecommunications (DoT): Collaborated with WhatsApp on training workshops to educate officials on scam identification and reporting.
Department of Consumer Affairs (DoCA): Launched a joint digital literacy campaign under the 'Jago Grahak Jago' program to help Indian consumers spot fraud.
Indian Cybercrime Coordination Centre (I4C): Conducted law enforcement training across seven Indian states, equipping officers to tackle online scams and fraud.
Meta's safety tools to prevent scams
Messenger Warnings: Alerts for suspicious payment requests and scam activity.
Selfie Verification: Facial recognition technology to prevent celebrity impersonation scams and assist in account recovery.
Privacy Check-Up: Customisable settings to control who can contact users and view their personal information.
Meta has taken decisive action against investment and payment scams , removing more than 23,000 Facebook Pages and accounts that primarily targeted users in Brazil and India. The scammers employed deepfake technology , falsely depicting personal finance influencers, cricket stars, and business figures to promote fraudulent investment apps and gambling websites.Meta uncovered scam networks that redirected users to messaging apps for fake investment advice and even fraudulent websites mimicking the Google Play Store to distribute scam gambling apps. As part of its broader crackdown, Meta has shared new insights and practical tips to help users recognise investment and payment scams.Recognising that scams rarely target a single platform, Meta continues to work with Indian authorities to boost digital safety :Meta is rolling out several anti-scam measures across Facebook, Instagram, and WhatsApp:
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Time of India
an hour ago
- Time of India
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