After Google, Meta Too Joins to Combat Online Scams, focusing on Investment & Payment Frauds

Meta Platforms has intensified its efforts to combat the surge in online investment and payment scams, which have become increasingly prevalent across its platforms. The company has identified a significant rise in fraudulent activities, including schemes promising high returns on investments in cryptocurrencies, stocks, and real estate. These scams often employ tactics such as impersonating financial advisors or using deepfake videos to lend credibility to their claims.

Also read : Meta Wins $168M Verdict Against NSO Group Over WhatsApp Spyware Breach

In response, Meta has implemented a series of measures aimed at protecting users. Collaborating with cybersecurity expert Rachel Tobac, the company has launched educational initiatives to help users recognize and avoid scams. Additionally, Meta has partnered with organizations like Graphika to identify and dismantle networks of fraudulent accounts, resulting in the removal of over 23,000 Facebook pages and accounts linked to scam activities in countries including India and Brazil.

Meta has also introduced verification tools across its platforms, such as two-factor authentication and identity confirmation features, to enhance user security. Furthermore, the company is supporting the FBI’s Level Up program, which aims to reduce financial losses from investment scams.

In recent headlines, Google also launched its initiatives to combat online fraud and scams. You can read more about it here.