According to a Bombshell report, Meta allowed Meta to allow thousands of Bogus ads to work on its platforms, while denial of the alleged cases of fraud to avoid losing advertising revenue.
The Facebook and Instagram parent represented almost half of all scammer complaints related to Zelle transactions reported by JpMorgan Chase between mid -2013 and mid 2014, according to the Wall Street Journal exhibition.
Other providers who use peer payment application have also received high amounts of meta -linked fraud claims, people who know the subject told The Journal, who spoke with the old and current employees, regulators and banks and have reviewed internal goal documents.
Meta platforms, used by more than three billion people daily, have long faced problems with fraud. But the problem has grown on a scale in recent years, fueled by the increase in cryptocurrency schemes, the content generated by AI and the criminal operations that are spreading based in Southeast Asia.
A scam reported that he involved a falsely tied misleading ads hut to Edgar Guzman, who manages a legitimate wholesale business outside of Atlanta.
Throughout a year, more than 4,400 different Facebook and Instagram ads used the Guzman warehouse address to promote steep abrupt discounts on bulk goods, including electric tool pallets for $ 29, and Amazon product boxes returned from $ 1.
“What hurts is that we have to break people who have been scammed; we do not even make sales online,” Guzman said in the magazine, adding that fraudulent ads have damaged his company’s reputation through negative criticism.
Another nefarious scheme took advantage of the confidence image of the Global Food Giant McCormick & Co, reported the magazine.
Facebook and Instagram users were guided by fake ads promising a free species frame and an assortment of brand products, which only required $ 9.99 shipping fee. The scam attracted victims to a place designed to imitate the official McCormick website, completed with a fake survey and a prize game.
After sending the credit card information, victims were charged with multiple fraudulent purchases for a total of hundreds of dollars.
“If your income comes from fraud, what is your incentive to protect people?” He told Marah Johnson, a 58 -year -old artist from Orange County, California, who fell into the scam.
“It feels like Meta is helping the scammers to go out.”
A third scheme that prosper on the goal platforms involves the sale of non -existent puppies.
Although Meta Bans Peer-to-Peer Sales of Living Animals Out of Narrow Exceptions, a simple search for “puppies” revealed thousands of questionable ads.
Many of them used stolen images and stated that they were “near me” breeders, but were tracked by the vendors who operate outside the Cameroon.
These listings often lacked affiliation with breeders or rescue organizations verified, in violation of the Meta’s own policies, according to the magazine.
The victims were usually asked to send deposits to secure a pet who never arrived.
According to the newspaper, the various scams can oust users of losses oscillating in hundreds of thousands of dollars.
“In recent years, the scam epidemic has grown on a scale and complexity, driven by ruthless cross -border criminal networks operating on a global scale,” said a Meta spokesman on Friday.
“As the scam activity has become more persistent and sophisticated, also have our efforts.”
But current and old employees told The Journal that Meta has been hesitant to impose stricter controls on advertisers and refused to strengthen their mechanisms against fraud.
The company registered a 22% increase in advertising revenue last year, which was more than $ 160 million.
Facebook and Instagram employees have the instruction of tolerating eight and 32 “strikes” of fraud before banning accounts, while the application of the scam in general is disprioritized to avoid losing their advertising revenue, sources said in the magazine.
When Meta employees personally climb the problem to their superiors, the limit fell between four and 16 strikes, according to the magazine.
Meta denied that he has put the benefits ahead of security,
“Eighty five percent of the advertising accounts eliminated or banned by violating our policies never spent a dollar” and “almost 70% of adly eliminated ad accounts for violating our policies are eliminated or banned in a week of account creation, many the same day they are created,” said the spokesman.
However, the failure of the company in fake ads has allegedly helped to feed scam operations related to the traffic of people in Southeast Asia, where the abducted victims are forced to work under the threat of “extreme ways of torture and abuse,” the magazine reported.
The spokesman for the finish line insisted that the company takes aggressive actions against these organized fraud operations, often known as the “pig’s butcher’s shop”.
“We go after the criminal organizations behind the Pork and other schemes, which are aimed at people worldwide through messaging, appointments, social networks and crypto and other applications to convince them so that they” invest “under false claims,” said the representative.
“This year we have received only more than two million accounts linked to scam centers in Myanmar, Laos, Cambodia, the United Arab Emirates and the Philippines.”
The company is experimenting with facial recognition tools, issuing notices of scams to users and collaborating with financial institutions and other technology companies because “this crime affects many industries and cuts in different parts of society,” added the representative.
Those who have been states are unlikely to obtain a meta refund.
In the legal archives, the Tech Titan has argued that he has no legal responsibility for the fraudulent content in his sites, citing the controversial section 230 of the federal telecommunications law that protects the platforms.
In a motion to dismiss a federal demand that accused the company of removing supplanting scams related to cryptocurrency, Meta wrote that “ the alleged infordage of finish control policies cannot lead to responsibility ”, and argued that “ it does not owe a duty to users ” when it comes to polishing fraud.
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Image Source : nypost.com