Key Points:
– Meta removed 2 million fraudulent accounts in 2024 linked to financial scams
– Primary source countries: Myanmar, Laos, UAE, Philippines, and Cambodia
– Main focus on “pig butchering” scams – sophisticated investment fraud schemes

The Scam Operation:
– Scammers often operate from “scam slave” facilities
– Victims are lured through fake job postings
– Perpetrators pose as attractive individuals or authority figures
– Use “spray and pray” tactics for mass targeting
– Lead victims to fraudulent investment platforms

Financial Impact:
– FBI reports 38% increase in investment fraud
– Losses rose from $3.31B (2022) to $4.57B (2023)

Meta’s Counter-Measures:
1. Implementation of Dangerous Organizations and Individuals Policy
2. Advanced detection using behavioral and technical signals
3. Collaboration with global law enforcement
4. Partnership with Tech Against Scams Coalition
5. Enhanced platform security features

User Protection Recommendations:
– Enable two-factor authentication
– Use selfie verification when needed
– Be cautious of unsolicited communications
– Avoid sending money to unknown contacts
– Be skeptical of unrealistic investment opportunities

This growing cybersecurity threat continues to evolve, requiring ongoing vigilance from both platforms and users.