Meta is actively working to combat online investment and payment scams in India. These scams often exploit current events and economic concerns, luring individuals into fraudulent investments or manipulating them through deceptive payment schemes.
Investment scams typically promise quick returns on assets like company shares, cryptocurrency, real estate, or precious metals. Scammers use various communication channels such as email, social media, texts, or calls to entice victims with exclusive opportunities or investment coaching groups.
Payment scams leverage the speed and anonymity of instant payment services. Common tactics include advance payments for goods that are never delivered and overpayment claims where scammers request refunds based on fake receipts.
In March, Meta took action against scam activities by removing over 23,000 Facebook Pages and accounts targeting users in Brazil and India. The scammers used deepfakes to impersonate well-known figures endorsing scam apps. Meta also disrupted over seven million accounts linked to criminal syndicates since early 2024.
Meta has implemented anti-scam tools across its platforms. On Messenger, warnings may appear when suspicious activity is detected. Video selfie verification using facial recognition technology is available for account recovery. Users can perform privacy check-ups on Facebook, Instagram, and WhatsApp to control who can contact them.
Collaboration with other organizations plays a crucial role in combating scams. In March, WhatsApp partnered with India's Department of Telecommunications (DoT) to train officials in identifying online scams. Meta also launched a digital literacy campaign with the Department of Consumer Affairs under the 'Jago Grahak Jago' program.
Meta continues its partnership with the Indian Cybercrime Coordination Centre (I4C) by conducting training sessions for law enforcement agencies across several Indian states.
The Llama Defenders Program was recently introduced by Meta to provide partner organizations access to AI solutions addressing security needs like fraud prevention.
Meta remains committed to updating users about ongoing efforts against scams while offering safety tips and product updates across its applications.
___