onlinefraud

Singapore Demands Stronger Protections from Facebook
Tech giant Meta is facing an unprecedented ultimatum in Singapore. The Ministry of Home Affairs warned the company that unless it strengthens anti-fraud protections on Facebook, it could face a fine of up to 1 million Singapore dollars (approx. $775,600 USD).
At the Global Anti-Scam Asia 2025 summit, Minister Goh Pei Ming said Facebook has become the primary tool exploited by fraudsters posing as others. The ultimatum comes under Singapore’s new Online Criminal Harm Act, in force since February last year.
“Police have determined that stronger intervention is necessary. Facebook has become the main platform scammers use to deceive victims,” the minister emphasized.

Alarming Numbers: A Third of Scams Linked to Facebook
Singapore police statistics paint a worrying picture. In the first half of 2025, there were 1,762 impersonation scam cases, nearly triple the number from the same period in 2024. Victims’ financial losses surged to SGD 126.5 million, an 88% increase compared to last year.
Authorities found that more than a third of all e-commerce scams reported in 2024 originated on Facebook. According to Minister Goh, some victims lost their life savings, jeopardizing their retirement plans.

Facebook Marketplace Among “Most Vulnerable”
Singapore’s Home Affairs Ministry identified Facebook Marketplace as one of the weakest online marketplaces when it comes to consumer protection. Meta responded, saying it has detection systems, fraud teams, and user reporting tools in place to combat scams.
The company added that Singapore-based sellers are often required to go through verification checks and that additional in-product safety warnings have been introduced.

A Global Fraud Problem Tied to Meta
According to the Wall Street Journal, Meta’s apps have been identified as major contributors to global online fraud.
50% of scams via Zelle at JPMorgan Chase between 2023–2024 were linked to Meta’s platformsSimilar patterns were seen by other U.S. banks, including Wells FargoUK and Australian regulators reported comparable levels of Facebook-related fraud
Internal Meta reports even showed that up to 70% of newly active advertisers were tied to scams, illegal goods, or low-quality products. Advertisers could rack up 8–32 warnings for financial fraud before facing a ban.

Meta Pushes Back
Meta has previously argued in U.S. courts that it has “no legal obligation” to stop scams on its platforms. In 2024, the company sought dismissal of a crypto fraud negligence lawsuit, claiming that “failure to enforce its own policies” cannot make it legally liable.

📌 Singapore’s ultimatum shows that governments are now pushing global platforms to take stricter responsibility for user safety. For Meta, this is another test of its ability to balance ad revenue with protecting people from fraudsters.

#meta , #Facebook , #OnlineFraud , #CyberSecurity , #worldnews

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