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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