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Crypto Scams: Senators ask Mark Zuckerberg how it’s fighting

Crypto Scams: Democratic senators from the United States Senate have asked Facebook (Meta) CEO, Mark Zuckerberg approximately the business enterprise`s techniques for handling cryptocurrency fraud.

Senators Robert Menendez, Sherrod Brown, Elizabeth Warren, Dianne Feinstein, Bernie Sanders, and Cory Booker reportedly known as Facebook CEO Mark Zuckerberg on Friday invited him what steps his business enterprise may take to discover cryptocurrency scams, paintings with regulation enforcement, and assist fraud victims. Facebook, Messenger, WhatsApp and Instagram are beneath neath Meta`s authority.
A GROUP of Democratic senators has asked Meta Platforms leader govt Mark Zuckerberg what his company is doing to prevent cryptocurrency scams on its social platforms, including Facebook and Instagram.

Senators ask Mark Zuckerberg how it’s fighting
Crypto Scams

In June, the Federal Trade Commission (FTC) stated greater than 46,000 human beings suggested dropping greater than US$1 billion in cryptocurrency to scams between January 2021 and March 2022. Nearly 1/2 of these people noted the fraud began with an ad, post, or message on a social media platform, the FTC noted on the time.

“We are worried that Meta presents a breeding floor for cryptocurrency fraud that reasons big damage to consumers,” the lawmakers, consisting of Senate Banking Committee chairman Sherrod Brown, stated in a letter launched Friday (Sep 9). The FTC statistics confirmed that three of Meta`s platforms – Instagram, Facebook, and WhatsApp – have been most of the pinnacle four used withinside the scams.

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