More than 9,000 scam Facebook pages deleted after Australians lose $43.4m to celebrity deepfakes

Meta’s new Fraud Intelligence Reciprocal Exchange (Fire) tool to work with seven banks in a bid to tackle scams

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Australians could see fewer deepfake images of celebrities being hauled off in handcuffs, or promoting a fraudulent cryptocurrency investment on Facebook, after Meta launched a new one-stop shop for banks to share information on scams that has blocked 8,000 pages and 9,000 celebrity scams in its first six months of operation.

From January to August 2024, Australians reported $43.4m in losses from scams on social media to Scamwatch, with close to $30m relating to fake investment scams.

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