Well now, imagine that—a company that’s supposed to be helping folks send a dime here and there is actually the grandmaster of scams. No kidding! A new report’s got the whole story, and it’s as plain as a pike pole in a sawmill.
Turns out, Meta Platforms, the folks behind Facebook and Instagram, has become the backbone of what the newspapers call “the internet fraud economy.” They’re like a busy beaver with a chainsaw, and scam artists are laughing all the way to the bank.
Between the summer of 2023 and 2024, nearly half of all the scam reports on Zelle at JPMorgan Chase could be traced straight back to Meta. And that’s true across all the big U.S. banks—like a greenhorn trying to hide his whiskey after the sheriff’s raid.
Internal papers from Meta tell us that about 70% of their newest advertisers are peddling scams, shady goods, or junk no decent person would want. It’s a regular bottomless basket of deceit, and they’re just getting started.
The crooks, it seems, are often linked to Southeast Asian crime networks—imagine that—using Meta’s own tools, cryptocurrencies, and fancy AI to flood the platform with fake ads for puppies, prize giveaways, and bargain-basement goods, all with the subtlety of a bull in a china shop.
Meta, being the clever devil it is, allows these shady advertisers up to 32 strikes before they get the boot—so, they say. Critics, however, reckon it’s just another way to keep the money flowing into their $160 billion advertising piggy bank.
Their Marketplace, which has now grown larger than Craigslist, has become a playground for scammers—like a bunch of Jack Spangs at a county fair, only with more thieving and less fun.
Meta claims they’re working hand-in-glove with banks and tech folks to put a stop to these shenanigans, deploying facial recognition and warnings like a sheriff’s badge. But, as always, the court argues they ain’t responsible for who’s selling what, and they’re just minding their own business.
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2025-05-24 20:02