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[ad_1] Most scams reported to finance app Revolut Ltd. in the UK last year started their journey on Meta Platforms Inc. social media, with most money lost to “get-rich-quick” investment schemes. The London-based fintech found 60% of UK scam cases came from Facebook, Instagram and WhatsApp, dwarfing other platforms and frauds conducted by telephone. Revolut found a similar trend across Europe, where 61% of scams originated on Meta services.Woody Malouf, Revolut's head of financial crime, said Meta platforms were “being used as a hotbed for scams,” and urged Revolut customers to avoid so-called investment opportunities. “Banks and financial institutions should be the last line of defence, not the only line of defence.” We are on WhatsApp Channels. Click to join. Malouf appeared alongside...

[ad_1] Prateek Bhardwaj broke out as a social media star on TikTok, drawing in close to a million followers. Prateek Bhardwaj broke out as a social media star on TikTok's short-video platform, drawing in close to a million followers and a slew of big-brand endorsements. But he's no longer on the app. The 30-year-old from small-town India defected to Moj, one of several Google-backed TikTok clones that sprouted after New Delhi banned the app from China's ByteDance Ltd.'s in 2020. He barely missed a beat: his fan base has ballooned to 3.4 million and the content creator still plugs products from Xiaomi phones to Diageo whiskey. Bhardwaj's smooth transition highlights the opportunity presented by TikTok's banishment from th...

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Facebook, Instagram and WhatsApp – Meta’s Apps Are ‘Hotbed’ for Financial Scams, Revolut Says