Meta executives are reportedly acknowledging a serious new problem with scams affecting its social media platforms.
A spokesperson for Meta, the parent company of social media behemoths Instagram and Facebook, tells the Wall Street Journal that the corporate giant is dealing with “an epidemic of scams” that has been growing exponentially in recent years, both in scale and sophistication.
“As this scam activity has become more persistent and sophisticated, so have our efforts.”
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The spokesperson reveals that Meta is experimenting with facial-recognition technology while also forming partnerships with banks and tech firms since the scams are affecting so many industries and “different parts of society.”
Citing people familiar with the matter, WSJ also reports that JPMorgan Chase has raised concerns with Meta about its policing
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