New York Attorney General Latitia James speaks on July 13, 2022 during a press conference at the Attorney General’s office in New York City.
Michael M. Santiago | Getty images
42 are calling a group of state attorney general Meta To curb the rise of investment scams on Facebook who use images from fraud Warren Buffett And other famous figures, New York Attorney General Latitia James Said on Wednesday.
James said that in a news release, criminals are constantly developing the automatic and human review system of Meta to post fake advertisements that hurting retail investors with millions of dollars in loss. He said that his office continues to watch the scam months after reporting to Mata.
Advertisement use access to buffett, Elon Musk Or arch investment Kathy WoodAccording to New York AG, Meta-owned messaging platforms, Facebook wooed users to join chat groups on WhatsApp.
There, users are inadvertently involved in alleged pump-end-dump plans, where criminals increase the price of shares with thin trading and sell for profit quickly, causing damage to small investors.
Meta, Facebook, Instagram and WhatsApp’s original company, struggling to control the rise of cyber scams on its platforms and a “one” is “a”Foundation stone In the Internet fraud economy, “The Wall Street Journal reported last month. The problem is global in nature, a notable suit is being brought by an Australian. Lakhpaire Who alleges that Meta’s Artificial Intelligence-Run Advertising Program created and enhanced false advertisements using their equality.
James said, “Thousands of Facebook users have lost millions of dollars for these scams and Meta should do more to prevent these fraud ads from walking on their platforms.” “I am leading a bilateral alliance on Meta to pursue my review of advertisements to prevent these scams. I urge all New Yorkers to be extra careful before investing their money in investments advertised on social media.”
Source: Office of New York State Attorney General
The AGS urged Meta to promote its policing of advertisements with more human reviews, stating that they should stop running the investment advertisements completely unless they keep curb on scams.
James included AG from states including California, Connecticut, Georgia, Massachusetts, Michigan, New Jersey and Pennsylvania.
Andy Stone, a spokesman at a meta, said that there is a need for cooperation between banks, governments, law enforcement and telecom companies to address scams on its platforms.
“We are committed to doing our share: to test the use of facial recognition technology, investing in technology to implement aggressively against scams, empowering people to protect themselves with on-platform warnings and equipment, educating consumers on general schemes and teaching, partnership in banking and protecting people from these criminals.
