ADVERTISEMENT
  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Wednesday, July 2, 2025
NewsOnline Nigeria
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
NewsOnline Nigeria
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
ADVERTISEMENT
ADVERTISEMENT
Home Crime Watch

US Senators Want Meta To Combat Crypto Scams On Instagram, Facebook, Whatsapp

 “Based on recent allegations of frauds on other social media platforms and apps, we are worried that Meta provides a breeding ground for bitcoin fraud that does serious harm to consumers.”

by NewsOnline Nigeria
September 11, 2022
in Crime Watch, Headline
0
Crypto Scams

US Senators have urged Meta to combat crypto scams on its Instagram, Facebook and Whatsapp social media platforms.

 

 

Newsonline reports that Democratic senators from the US Senate have questioned Meta Boss, Mark Zuckerberg about the company’s procedures for dealing with cryptocurrency fraud on its social media platforms.

 

ALSO: King Charles III Approves Bank Holiday For Queen Elizabeth Funeral

 

Senators Robert Menendez, Sherrod Brown, Elizabeth Warren, Dianne Feinstein, Bernie Sanders, and Cory Booker reportedly made a call to Facebook CEO Mark Zuckerberg on Friday to ask him what steps his company might take to identify cryptocurrency scams, work with law enforcement, and help fraud victims. Currently, Facebook, WhatsApp, Messenger, and Instagram are under Meta’s authority.

 

According to sources, the group of senators stated, “Based on recent allegations of frauds on other social media platforms and apps, we are worried that Meta provides a breeding ground for bitcoin fraud that does serious harm to consumers.”

 

The lawmakers cited a Federal Trade Commission report from June, which called social media and cryptocurrency a “combustible combination for fraud,” noting that about half of the $1 billion in cryptocurrency-related scams in 2021 originated from social media platforms, with the majority focusing on investments:

 

Much more often than any other payment method, nearly four out of every ten dollars reported lost to fraud that started on social media were lost in cryptocurrencies. These reports listed Instagram (32%), Facebook (26%), WhatsApp (9%), and Telegram (7%) as the leading platforms.

 

The Democratic senators also requested that Meta provide scam alerts in languages other than English. The senators have asked Zuckerberg to react with specific information by October 24 and a spokeswoman for Meta, Andy Stone, reportedly stated that the social media company invested “significant resources to detect and prevent scams.”

 

In a similar manner, the U.S. Federal Bureau of Investigation focused on cryptocurrency fraud in a July advisory, alerting users to applications that impersonate trustworthy businesses by utilizing their logos and other identifying details to commit fraud. Additionally, many unwary individuals have been duped on Twitter and YouTube by frauds including hacked accounts, imitation websites, and fraudulent cryptocurrency projects and airdrops.

ADVERTISEMENT
Previous Post

Grooming Centre University Grant Scheme 2022 | 20 Million Naira

Next Post

Security Updates: I See Hope – Femi Adesina

Next Post
Security Updates: I See Hope - Femi Adesina

Security Updates: I See Hope - Femi Adesina

ADVERTISEMENT

NEWSONLINE NIGERIA

Get the Latest Naija News, Breaking News, Top Stories, World News, Business, Politics & Entertainment from NewsOnline Nigeria.

RELEVANT PAGES

  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy

ALERT US

Important Press Releases, Special Investigations: admin@newsonlineng.com

OFFICE ADDRESS

13 Poland Street, London, United Kingdom (UK)

Copyright © 2025 NewsOnline Nigeria

No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports

Copyright © 2023 Newsonline Nigeria