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Meta Remains at the Forefront of Scams
Internet scams are not slowing down. In its latest report on consumer safety and financial crime, the digital bank Revolut presents a concerning overview: 54% of the scams recorded in the second half of 2024 originated from Meta’s platforms. This marks the third consecutive period that this group has held this dubious distinction. Facebook alone accounts for 28% of reported cases, followed by WhatsApp with 21%, and Instagram. Telegram, although not affiliated with Meta, is increasingly utilized and accounts for 18% of the reports.
In France, the trend is similar, albeit slightly less pronounced. Meta accounts for 38% of fraud cases, according to the figures shared in the report. Revolut primarily aims to raise awareness about the rapidly evolving methods used by scammers, who are increasingly exploiting direct communication channels and encrypted apps.
Rise in Scams on Telegram
Scams are gradually shifting toward platforms perceived as more secure. Telegram, in particular, has seen scam cases skyrocket by 121% in just six months. WhatsApp has also seen an increase, with a 67% rise in scams over the same period. Together, these two services now account for 39% of the scams documented by Revolut across Europe.
Certain types of scams are more prevalent on these messaging platforms. Telegram accounts for 59% of scams related to fraudulent job offers, while WhatsApp leads in investment scam cases (30%, compared to 25% for Telegram). However, purchase scams remain the most common, particularly on Facebook.
Revolut Continues to Criticize Platform Inaction
In light of these figures, Revolut criticizes the lack of adequate response to the problem. Woody Malouf, head of financial crime prevention at Revolut, condemns the lack of initiative from social networks, and believes this passivity promotes the spread of fraudulent content.
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The digital bank calls for stricter measures: proactive removal of suspicious content, enhanced verification of advertisers, and collaboration with financial institutions. It still hopes that platforms like Meta will take part in compensating victims, when scams have been facilitated by their infrastructure.
The report clearly highlights a well-established reality: social networks, especially those belonging to the Meta group, remain one of the main vectors of online scams. Despite repeated calls for action, concrete measures are still awaited.