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Tag: Facebook

Meta’s Profiteering from Scam Ads – A Threat to Financial Integrity

FinTelegram Charlene Lensburg -
Meta Platforms is brazenly profiting from a torrent of fraudulent advertisements, prioritizing revenue over user safety and regulatory compliance. A Reuters investigation exposes that Meta projected 10% of its 2024 revenue—approximately $16 billion—from ads promoting scams and banned goods, while serving users an estimated 15 billion high-risk scam ads daily.

Meta’s Fact-Checking Program Termination: A Shift to Appease Trump or an Industry Turning Point?

Politics tamir -
Meta, formerly Facebook, has recently terminated its Fact-Checking Program, citing concerns of political bias. Could this decision signal a strategic pivot to align with the priorities of the new US President, Donald Trump? Mark Zuckerberg’s critique of the program’s alleged left-wing leanings raises questions about the role of social media platforms in moderating truth and misinformation.

Mastercard Goes Africa And Buys Stake in Mobile Payment Operator MTN at $5.2 Billion Valuation!

Payment Institution tamir -
Mastercard has agreed to purchase a minority stake in the fintech division of MTN Group, Africa’s largest cell phone provider, which it values at $5.2 billion on a cash and debt-free basis. While the specifics of Mastercard's investment will remain confidential until the deal's completion, which will likely occur soon as both parties near the end of the due diligence process. This news has led to a significant surge in MTN's stock, marking its highest increase in three months.

Whistleblower Power: Learn More About The Dark Side Of Social Media!

FinTelegram tamir -
Whistleblowers have much power and are a corrective factor in business and politics. Most jurisdictions have implemented whistleblowers to motivate and protect them. One of the well-known whistleblowers is Frances Haugen. In 2021, a former Facebook data scientist exposed the dark side of social media algorithms and underscored the urgent need for transparency and accountability within the industry. In her book "The Power Of One," she explains herself.

Private Affairs: GDPR Fine Tracker Exposes The Poor Privacy Ethics Of Large Internet Companies!

Compliance Charlene Lensburg -
The Irish Data Protection Authority (DPA) recently imposed a record fine of €1.2 billion on Facebook parent Meta Inc for unlawful data transfers to the US. In 2018, the GDPR became effective in the EEA countries. Since then, Private Affairs has tracked the penalties issued via its GDPR Fines Tracker & Statistics and publishes the relevant statistics on its website. They show that many companies are very careless with user data and have poor privacy ethics.

Facebook Owner Meta Fined A Record €1.2B For Allowing US Intelligence Agencies Data Access!

Compliance Charlene Lensburg -
Meta, the owner of Facebook, has been fined a record €1.2 billion by Ireland's Data Protection Commission for violating European Union data protection rules. They have also been ordered to cease transferring data collected from Facebook users in Europe to the United States. The penalty is a significant outcome under the General Data Protection Regulation (GDRP), marking one of the most important rulings in the past five years.

Brace For Recession: Large-Scale Layoffs At Meta Continues The Twitter Path!

Economics and Finance Ben -
Following the takeover by Elon Musk, Twitter announced the layoff of 50% of its 7,500-strong workforce. We forecasted that this would only be the beginning of a layoff tsunami on the road to a global recession. According to WSJ, Meta Platforms Inc., the parent company of Facebook and WhatsApp, is planning to begin large-scale layoffs this week. It could be the largest round in a recent spate of tech job cuts after the industry’s rapid growth during the pandemic.

Brace For Tech Winter! Massive Layoffs On The Road To Global Recession!

Economics and Finance tamir -
One of the clearest indicators that an economic downturn, if not a recession, is knocking at the door is when companies start with layoffs. Twitter was this week just the last tech giant that announced and executed a massive layoff, allegedly firing half of its staff. Stripe CEO Patrick Collison announced the layoffs of over 14% of its workforce, amounting to more than 1,000 jobs. Raid-hailing operator Lyft announced the layoff 13% of its workforce, or nearly 700. Brace for the Tech Winter.

Fake Social Media Profiles Have Reached Pandemic Levels In The Finance Sector!

Fake Profiles Ben -
A few days ago, Binance founder and CEO Changpeng Zhao (CZ) warned via Twitter that out of more than 7,000 LinkedIn profiles of alleged Binance employees, only about 50 were genuine. Scammers would pose as LinkedIn employees and offer listings, for example. It is a fact that, especially in the high-risk payment segment, many providers such as Paypound or OpenUp work with fake profiles to trick merchants. It has already reached pandemic proportions.

Facebook Parent Reports First Ever Revenue Drop!

Economics and Finance Mark Lagarde -
Facebook parent Meta Platforms posted its first decline in revenue and issued a muted outlook on its digital advertising revenues. The US social media giant continues to lose market shares to its fast-growing Chinese competitor TikTok. The company reported quarterly revenue of $28.8 billion, down almost 1% from a year earlier and slightly below the $28.9 billion analysts expected. It is the first time the social media giant posted a quarterly revenue drop from the previous year.

Fighting Social Media Fraud! Facebook And Twitter Agree To New EU Rules!

Fake News Charlene Lensburg -
Social media are powerful tools for scammers to chase victims. Facebook, Twitter, and other social media platforms have agreed to abide by tougher EU standards for policing online postings, WSJ reports. Big tech companies will also face tougher rules under the coming US digital-content law. Under the new EU code of practice, social media platforms will be expected to take steps to prevent advertising intentionally false or misleading information. Platforms will also be expected to provide users with more tools for identifying such content online.

It’s about time! Australien consumer watchdog sues Meta over fake Facebook ads!

Court Cases Charlene Lensburg -
The Australian consumer watchdoch sues Facebook's parent company, Meta, over targeted fake crypto ads that have scammed Australians out of more than $100 million. The ACCC alleges the company engaged in false, misleading, and deceptive conduct by publishing scam advertisements featuring prominent Australians. The ACCC says that, in one instance, a victim lost $650,000 to a scam. Fake ads on Google and Facebook are the most efficient way for scammers to chase victims.

FinTelegram is a cyberfinance intelligence and compliance platform investigating financial crime, regulatory violations, and the rails, entities, and ecosystems that facilitate them. Combining investigative journalism, whistleblower intelligence, and forensic compliance analysis, we map risk across payments, banking, crypto, and offshore structures to support transparency, accountability, and informed action.

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