Scammers created fake images and videos of popular Indian and Brazilian finance content creators, cricket players, and business personalities, then circulated them on social media and messaging platforms.
Technology: In a crackdown on fraudulent investment schemes on social media platforms, Meta took significant action in March 2025. The company shut down over 23,000 fake Facebook pages and accounts involved in defrauding thousands of users in India and Brazil. These scams utilized high-tech deepfake technology to create fabricated photos and videos of prominent business leaders, finance influencers, and cricket players, misleading unsuspecting individuals.
How the Fraud Was Orchestrated?
Posts shared on these fake pages claimed that a well-known individual (such as a prominent investment advisor, business icon, or cricketer) was recommending a specific investment scheme promising quick, substantial returns (doubling or tripling investments). Deepfake videos or morphed photos of these celebrities were used to lend credibility to these schemes.
Clicking on the links in these posts either added users to messaging app groups or redirected them to fake websites mimicking the Google Play Store, prompting them to download fraudulent apps. Once the app was downloaded, victims were asked for personal information, bank details, and payments.
Meta's Strict Action and Warning
Meta issued a statement announcing the deletion of thousands of Facebook pages, accounts, and groups targeting India and Brazil in March 2025. These were part of a coordinated scam network consistently deceiving people under the guise of fake investment schemes, betting apps, and coaching groups.
The company urged users to be wary of get-rich-quick schemes and to think carefully before clicking any links. Meta also stated it would strengthen its technology and moderation on its platforms to combat deepfakes and AI-generated material.
Steps Taken Regarding Cybersecurity in India
Meta is collaborating with various Indian government departments to enhance digital security and fraud prevention in the country. Some key initiatives include:
- Joint cybersecurity workshops with the Department of Telecommunications (DoT) on WhatsApp, training communication partners, field agents, and DoT officials in identifying and reporting online fraud.
- A digital awareness campaign under the Ministry of Consumer Affairs' ‘Jago Grahak Jago’ initiative, educating consumers about how to avoid fake apps, emails, and websites.
- Training provided to police units in seven states through the Indian Cyber Crime Coordination Centre (I4C), enabling them to protect citizens from online scams and provide technical assistance in fraud investigations.
How Fake Investment Scams Operate?
Meta highlighted some key methods used in investment scams:
- Fake Investment Schemes: Luring individuals with promises of quick returns, secret tips, and special memberships.
- Advance Payment Scams: Demanding upfront payments for investments or services, then disappearing.
- Refund Scams: Claiming to transfer larger sums of money initially, then defrauding victims under the guise of a "refund".
Do's and Don'ts
- Avoid clicking on unfamiliar links.
- Do not blindly trust schemes advertised on social media.
- Only use official stores (Google Play/Apple Store) before downloading any app.
- Verify the authenticity of statements, videos, or promotions by well-known personalities.
Meta's action underscores the proactive role tech companies are playing in combating social media fraud. However, individuals must remain vigilant as scammers constantly devise new tactics. Staying safe in the digital world requires not just technology, but also the adoption of safe practices.
