Facebook Criticized For “Tsunami” Of Fraud On Its Platforms

If you’ve used Facebook for any length of time, you know that fraud and scams are all too common on the platform. While many users tolerate this, some experts and lawmakers in the UK have had enough and are demanding the company take more responsibility for its users falling victim to scammers.

In particular, many banks have begun to stand against Facebook and demand it take action against online fraud. One bank called Facebook the “single biggest enabler” of fraud, and claimed that Instagram was second. In protest, the financial institution withdrew advertising from all Facebook-owned platforms until the social media giant does something to address the issue.

“Government measures do not go far enough and we are disappointed that the responsibility of reimbursing customers falls only on banks, while the social media platforms, where the fraud originated, are let off the hook,” the bank said in a statement. “These platforms, including Meta, profit from crime and yet remain beyond the reach of law.”

It can be extremely difficult to hold a tech platform accountable for the content it hosts, especially here in the US. However, it’s still good to see Facebook being called out for this problem. If nothing else, hopefully the bad publicity forces it to do more to protect users.

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