Fake Investments Flood Facebook and Instagram,Leaving Swiss Users Vulnerable to scams
Geneva,Switzerland – A surge in fraudulent investment schemes promoted through advertisements on Facebook and Instagram is costing Swiss citizens meaningful sums,raising questions about the platforms’ duty in policing deceptive content. Scammers are increasingly leveraging the visual nature of MetaS social networks - Facebook, Instagram, and WhatsApp – and sophisticated tools like artificial intelligence to lure unsuspecting users into bogus opportunities.
For years, fraudsters have falsely endorsed investments using the images and likenesses of prominent Swiss figures, including tennis star Roger Federer, musician DJ Bobo, and journalists from RTS (swiss Radio and Television). These schemes typically feature fabricated articles “revealing” how these individuals amassed fortunes through specific investments. Recently, the tactic escalated with the creation of a deepfake video featuring RTS presenter Pierre-Yves Maillard, further blurring the lines between reality and deception. The ease with which these scams proliferate on Meta‘s platforms has sparked criticism regarding the company’s commitment to protecting it’s users.
The problem isn’t new, but its scale and sophistication are growing. Victims are losing “colossal sums” as they fall prey to promises of swift riches. The core issue lies in the platforms’ advertising infrastructure, which allows scammers to target users with tailored ads, often disguised as legitimate financial advice. While Meta has policies prohibiting fraudulent financial schemes, enforcement appears to be lagging, leaving a vast opening for exploitation.
Experts warn that the use of AI-generated content will only exacerbate the problem, making it increasingly difficult for users to distinguish between genuine opportunities and elaborate scams. The financial consequences for individuals can be devastating, and the broader impact erodes trust in online advertising and financial data. Authorities are urging users to exercise extreme caution and verify any investment opportunity independently before committing funds, while simultaneously calling on Meta to strengthen its oversight and swiftly remove deceptive advertisements.
