Scammers are turning to Facebook Marketplace as it reaches 1 billion users

Facebook Marketplace Logo Image in news Photo

Facebook Marketplace Logo Image in news Photo

Shortly after Facebook announced its ecommerce platform had reached a billion active users, reports claimed that scammers took advantage of that growth to launch larger campaigns.
Building on the success of the social media giant, ProPublica discovered that a Facebook Marketplace account had been hacked and used to post about 100 fraudulent cell phone and car entries.

TechRadar Pro asked Facebook to comment on the allegations and its strategy to protect its users from scammers.

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  • Facebook claims to protect its users through a combination of automated systems and human evaluations, but ProPublica's investigation found that these measures to protect buyers and sellers from fake accounts and fraudulent traffic all appear to have failed.

Founded in 2016, Facebook Marketplace wanted to encourage people in their local communities to buy and sell items. The platform reached 1 billion users in April 2021 as the global pandemic boosted the e-commerce market.

In Facebook's latest Q2 2021 results, Founder and CEO Mark Zuckerberg said, “We've had a strong quarter as we continue to help businesses grow and people stay connected.
 "I'm excited to see our major initiatives around creators and community, commerce, and building the next computing platform coming together to start to bring the vision of the metaverse to life."

ProPublica's investigation consisted of a combination of internal company documents, interviews and law enforcement documents that uncovered suspected hacking activity.

The scams included mentions violating Facebook's e-commerce guidelines, including a network of fake and suspicious accounts with lists of untrustworthy male nutritional supplements.

Facebook has published a guide to help users in its market avoid scammers online, including encouraging users to beware of gift card scams and to look for counterfeit products.

Sources:- techradarpro
 

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