The black market on Facebook has been found to be fraudulent.
The black market on Facebook has been found to be fraudulent.
The accounts can be used to run multiple pages and ad campaigns, creating new opportunities for online scams, disinformation, and election interference, according to the investigation by the Tech Transparency Project, a Washington, D.C.-based information and research organization that focuses on the...

More than 100 Facebook groups, some with tens of thousands of members, were found to be in violation of the social network's rules, according to a technology platform watchdog group.

online scams Tech Transparency Project 

For years, Facebook has claimed that its artificial intelligence systems can clean up its platform, but time and time again, we have found that it is failing to remove harmful content that violates its policies. The director of the TTP told TechNewsWorld. This is true for the black market for ad accounts.

Business manager accounts allow managers of social media to manage their accounts from a single dashboard. Meta promotes them as a one-stop shop for advertising and marketing on its platforms.

The accounts are particularly valuable to scam artists because business managers can run a series of ad campaigns and easily add new users to expand their reach, according to the report.

Users frequently sell accounts in bulk quantities in the Facebook groups examined by TTP. Many of the accounts are linked to a credit card. They were either hacked or stolen. Paul said that it was a big problem for individual users or small businesses that suddenly had an unauthorized person charge up their card.

The report found that some sellers offer accounts to advertise political, election, and social issues.

Facebook acts.

The black market was dismantled by Facebook after they were notified of the situation. We removed the groups that were flagged to us last week for violating our policies, and we will review additional groups and remove those that violate. The company said in a statement.

The company said it has set up checks for several group administrators, requiring more information before they can access their accounts.

The report states that the black market raises some troubling questions for the company and its parent. It is not clear why Meta isn't doing more to combat this illegal trade, given Facebook's longstanding scam ad problem and Russian election interference.

KnowBe4 

Jenny Griesdorn, senior manager of global social media strategy at KnowBe4, a security awareness training provider in Clearwater, Fla., cited Facebook's community guidelines as evidence of its lack of concern about fraudulent accounts. If your account appears to have been hacked or compromised, we may not be able to confirm your ownership of the account after a year.

Griesdorn told TechNewsWorld that it was best that anyone who uses this platform protect their personal information because Facebook does not care about getting rid of fake or hacked accounts.

Real revenue and fake accounts.

Some people think that the social network has taken a light touch with fraudulent accounts because they make money.

The accounts are approved to advertise on Facebook. Paul said that Facebook profits every time the buyers of the accounts run ads on the platform.

She said that this raises new questions about how much of Facebook's advertising revenue is coming from hacked, stolen, or trafficked ad accounts.

Cato Institute 

Will Duffield, a policy analyst with the Cato Institute, pointed out that fake accounts don't produce as much revenue as legitimate ones.

There is some incentive not to poke too much at the problem, but from the business side, each black market account means there is a business customer who is dissatisfied because they have had their account stolen.

He said that it was not good for Facebook if legitimate accounts were being stolen and turned into black market accounts.

The platform for election interference.

According to the report, Facebook has had a problem with accounts being hijacked to run scam ads using people's credit card information. Business manager accounts have the ability to run multiple ad campaigns at the same time.

The owners of business manager accounts have told of how hackers hijacked their accounts, raising their billing threshold to rack up thousands of dollars in spending on scam ads that direct people to questionable e-commerce websites.

The TTP found that sellers were advertising on social issues, elections, and politics. Concerns have been raised that they could be used for election interference.

Paul said that the company is facilitating a black market for accounts that can run election ads in specific countries.

She said that Facebook was undermining its own election protection efforts by failing to address the issue. The ability of bad actors to spread misinformation is increased by the fact that the business manager accounts run multiple ad campaigns at the same time.

Challenging task

Controlling disinformation Vincent Raynauld 

The problem of controlling misinformation on Facebook is a difficult one according to an associate professor in the Department of Communication Studies.

Raynauld told TechNewsWorld that it's difficult for Facebook to identify and suppress misinformation on their platforms.

The producers of the disinformation will adjust the structure of it so it will evade the filter and have an impact on the public conversation if Facebook establishes a filter.

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