Meta, Instagram and Facebook, such as social media platforms, said fraud incidents have increased a great deal. Company spokesman, in recent years fraud activities both in terms of diameter and complexity has increased significantly, this problem has become increasingly widespread, he said. It was emphasized that new technologies and cooperation with different sectors stand out in the fight against fraud.
Meta official said that they tested face recognition technology in response to the current problem and established partnerships with banks and technology companies. Because fraudsters not only on social media platforms, but also in finance, technology and many other sectors are said to increase the impact.
In a statement made by Meta, fraud and fraud is increasingly permanent and complex, the company has improved measures. The company reportedly reviewed resource management and priorities in different departments.
“As these fraud activities become more permanent and complex, our measures are developing.” (Meta Spokesman)
Bank and user experiences
Frauds on Meta’s platforms directly affect the financial sector. Wall Street Journal’s sources, JPMorgan Chase, especially because of the lack of control of the Meta’ya various warnings, he said. It was suggested that almost half of the fraud incidents reported on the Zelle payment platform between the 2023-2024 summer period between JPMorgan Chase users took place through commodity.
With these developments, JPMorgan began to prevent some zelle payments from social media and started to send warnings to users. In recent months, there has been some decrease in commodity -related fraud rates, but it was still a significant problem.
“The number of frauds linked to commodity has been observed in recent years.” (WSJ Source)
Reflected effects on companies and individuals
Frauds lead not only the financial sector but also in retail and service sectors. Edgar Guzman, the owner of a company operating on home renovation and garden equipment in Atlanta, said that scammers often target their customers and collect payments without making product delivery.
“Worst of all, we have to say that they are deceived by people. We don’t have online sales and if we report the pages to Meta, there is no improvement.” (Edgar Guzman)
Although Meta’s measures and cooperations caused a partial decrease in fraud cases, it was claimed that the company has pushed the removal of false ads from time to time and went to cost reduction in some departments. This can lead to some wrong or harmful content on the platform.
The developments show that the safety and the attention of users in the digital environment imposes important responsibilities to individual users as well as companies. The importance of information and confirmation mechanisms in the transactions made through platforms is increasing. In such cases, users make notification to platform officials and to prevent individual grievances.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
