Letter to Mark Zuckerberg from senators| Questioned about protesting scams
A letter from the senators to Mark Zuckerberg
A team of Democratic senators has sent a letter to Mark Zuckerberg, Chairman and Chief Executive Officer of Meta, asking about his plan to fight against crypto scammers on social media under Meta Platforms like Facebook, WhatsApp, and Instagram. The senators are Robert Menendez, Sherrod Brown, Elizabeth Warren, Dianne Feinstein, Bernard Sanders, and Cory A. Booker who signed at the bottom of the letter that was sent on 08 September.
It has referred to data from FTC, a short form of the Federal Trade Commission that draw a line between social media and crypto scamming mentioning that 49% of scamming news originated and uplifted on social media with a cost of suffered consumers total of 417 million USD.
Why such type of letter?
It shows that some Meta platforms are promoting scammers whereas 32% of investigated scamming originated on the Instagram platform, 26% of scamming originated on Facebook, and 9% of scamming originated on WhatsApp.
To protest scammers, Facebook decided to ban crypto-promoted advertising in January'18, due to desperate advertising of some firms on that platform about binary options of ICOs and cryptocurrencies which has lost good faith in recent years. However, it reversed the order expanding the list of regulatory licenses accepted in order to advertise
cryptocurrency on Facebook and Instagram.
Seven questions asked:
There were specific 07 questions asked in the letter and Mark Zuckerberg was requested to respond by October 24, 2022. The questions were:
1. What are Meta’s current policies and practices for proactively finding and removing crypto scammers from its social media platforms?
2. What is your procedure for verifying that crypto ads on Meta platforms are not scams?
3. What informed Meta’s decision about which regulatory licenses to accept for crypto advertisers, and how do you intend to maintain that list going forward?
4. When you receive reports of a scammer, please describe what policies you have in place to remove them from your platforms.
5. What policies and practices do you have to proactively protect users from scammers?
a. What measures does Meta take to educate users about the risk of crypto scams on its platform?
b. Does Meta provide warnings or educational material regarding crypto scams in any language other than English?
6. What policies do you have in place for assisting victims of crypto scams on your platforms?
7. To what extent does Meta collaborate with law enforcement to track down scammers and fraudsters?
Link of the letter: Letter from senators to Mark Zuckerberg
The senators reminded Mark in the letter about the commitment he expressed on May 12, 2020, in another letter regarding stopping the misinformation where he mentioned that: “…we have an important role to play in keeping abuse off our platform, especially when it comes to imminent harm, and we are committed to making Facebook a safe place for users.”
The letter has been concluded by giving thanks.
~ Regards,
VEIGO (Community Mod)
This so important news for the crypto users