Scam Watch

Lobbying Group Says Facebook Hosts More Than Half Of Digital Payment Scams

Lobbying Group Says Facebook Hosts More Than Half Of Digital Payment Scams

For several months, Facebook has been under increasing fire in the UK over its role in hosting financial scammers on its platforms. And last week, the pressure was turned up even more when a large banking and finance lobby group wrote a letter to government officials claiming that 61 percent of all push payment fraud…

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Stock Exchange Targeted By Facebook Scammers

Stock Exchange Targeted By Facebook Scammers

Facebook scammers have many strategies to fool users, but one of the easiest is impersonating someone they already trust — or a prominent financial institution. This week, the Malaysian stock exchange Bursa said that it has been relentlessly targeted by these Facebook scammers who have impersonated both the exchange and its CEO in order to…

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Facebook Criticized For “Tsunami” Of Fraud On Its Platforms

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…

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Scammers Are Hacking Verified Facebook Pages To Trick Users

Scammers Are Hacking Verified Facebook Pages To Trick Users

When Facebook introduced its paid blue check verification system, the goal was to reassure users that the accounts they interact with are genuine. However, according to a report from Mashable this week, that system may have already backfired. A number of verified Facebook business pages have allegedly been hacked, with their names and URLs changed…

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Bank Says That 80 Percent Of Its Fraud Cases Come From Meta Owned Sites

Bank Says That 80 Percent Of Its Fraud Cases Come From Meta Owned Sites

It’s no surprise that an increasing amount of financial scams are happening on Facebook. However, the sheer number of users who are being taken advantage of is shocking. According to a review of its internal data, the bank TSB says that 80 percent of fraud cases within its three biggest fraud categories came from Meta-owned…

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Report: New Facebook Malware Campaign Infects Half A Million Users In Three Months

Report: New Facebook Malware Campaign Infects Half A Million Users In Three Months

This week, a team of security researchers announced that they have discovered a massive malware campaign running through Facebook Ads that has infected about half a million users around the world over the past three months. This campaign, which has been traced to a Vietnamese cybercriminal, uses Facebook Ads promoting free porn to entice users…

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Security Experts Warn About New Scam Involving Hackers Who Impersonate Facebook

Security Experts Warn About New Scam Involving Hackers Who Impersonate Facebook

This week, a team of security researchers revealed that they have found more than 3,200 scam Facebook profiles that are impersonating the social media giant itself in order to steal users’ account credentials. This relatively simple scam involves hackers creating phishing websites that look like the main Facebook log-in page. Then, they target the accounts…

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Researchers Discover Well-Known Malware Hidden In Facebook Ads

Researchers Discover Well-Known Malware Hidden In Facebook Ads

It’s not unusual for Facebook scammers to take advantage of buzz around a new product or technological breakthrough to fool unsuspecting users. And according to a team of security researchers, the latest such attack involves ads placed through hijacked Facebook business and community pages for downloadable AI tools. According to the researchers’ report released this…

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New “Lily Collins” Hack Is Locking People Out Of Their Facebook Accounts

New “Lily Collins” Hack Is Locking People Out Of Their Facebook Accounts

Another month, another rapidly growing Facebook scam. According to multiple reports around the web, a new attack has begun to spread that has been dubbed the “Lily Collins Hack.” The reason? After the hack’s victims have been locked out of their accounts, their names and profile pictures are changed to the actress. And to make…

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TV Networks Slam Facebook Over Allowing Scam Ads

TV Networks Slam Facebook Over Allowing Scam Ads

Facebook is often criticized by consumer advocates for not doing enough to crack down on fraudulent ads on its platform. Many of these critics have even accused the social media giant of dragging its feet on this enforcement because it’s profiting from this content. However, it’s unusual for large companies to take this stand, too.…

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