Because of their size and reach, many Meta-owned platforms like Facebook, Instagram, and WhatsApp are often used by financial scammers. The nature of these scams has evolved over time, so it’s not surprising that many cybercriminals are now using cryptocurrency to take advantage of unsuspecting users. That’s why six US senators sent a letter to Facebook founder and CEO Mark Zuckerberg to press him about his company’s handling of crypto scams.
The politicians asked Zuckerberg seven questions about Meta’s current policies for dealing with these scams, including how the company detects them, how it’s educating users about the threat, and how it’s helping assist victims.
“While crypto scams are prevalent across social media, several of Meta’s sites are particularly popular hunting grounds for scammers,” the lawmakers wrote in their letter. “Among consumers who reported being scammed out of cryptocurrency on a social media website, 32% identified the scam as having originated on Instagram, 26% on Facebook, and 9% on WhatsApp.”
The lawmakers gave Zuckerberg until late October to respond to their queries, but even when he does, it’s doubtful that they’ll be satisfied by the answers. Hopefully this compels them to take stronger action against Meta and hold it responsible for scams on its platforms.
Choose what the experts use: award-winning cybersecurity you can trust and rely on.
Surf the web truly incognito. Try Bitdefender Premium VPN, the ultra-fast VPN that keeps your online identity and activities safe from hackers, ISPs and snoops.