Facebook Critic Urges Users to Leave Platform Amidst Scam Surge
Translated & summarized from Calcalist by baba
Journalist Shaul Amsterdam is battling a surge of fake Facebook pages impersonating him to run investment scams, criticizing the platform for prioritizing profit over user safety. Despite his efforts and legal action by Bank Leumi, the scams continue, leading Amsterdam to urge users to abandon Facebook as the only potential leverage for change. He highlights the platform's role in spreading disinformation and fraud, suggesting that regulatory action and user exodus are necessary to force Meta to address the issue.
The story in 6 lines · by baba
- Journalist Shaul Amsterdam is fighting fake Facebook pages impersonating him to promote investment scams.
- These fraudulent pages lure users into WhatsApp groups with false stock recommendations.
- Amsterdam criticizes Facebook for prioritizing advertising revenue over user safety and allowing scams.
- Attempts to resolve the issue with Facebook Israel and public shaming have been ineffective.
- Bank Leumi is suing Meta for NIS 26 million over similar impersonation scams.
- Amsterdam urges users to leave Facebook, calling it the only leverage for change.
Journalist Shaul Amsterdam is waging a persistent, yet largely unsuccessful, battle against fake Facebook pages impersonating him to promote investment scams. These fraudulent pages, often created with slightly altered names and stolen profile pictures, lure users into WhatsApp groups with promises of stock recommendations. Amsterdam notes a seasonal surge in these scams, describing them as a recurring problem that Facebook's algorithms seem to favor over genuine user safety. He criticizes Facebook, owned by Meta, as a "burning garbage dump" that prioritizes advertising revenue over user well-being, allowing disinformation, fraud, and hate speech to proliferate.
Amsterdam recounts his attempts to combat the issue, including direct appeals to Facebook Israel's CEO, Adi Sofer Teeni, and public shaming on social media, both of which proved ineffective. He credits the Israeli Internet Association with providing the most effective assistance, helping to get fake pages removed, though new ones constantly emerge. The problem extends beyond him, with other public figures and even the Israel Securities Authority falling victim to similar scams. Facebook's response has been inadequate, with Amsterdam stating that pages removed for impersonating him are often repurposed to impersonate others.
Despite past promises from Meta to implement identity verification for financial advertisers in Israel, these scams persist. A recent report by Stark Security identified numerous fake pages impersonating Amsterdam and highlighted the stock exchange as a major target, with thousands of ads from fake pages. Internal documents suggest Meta may derive a significant portion of its advertising revenue from fraudulent ads, creating a financial disincentive to address the problem effectively. Bank Leumi has taken legal action, suing Meta for NIS 26 million over July's scams and alleging complicity in customer fraud.
Amsterdam argues that lawsuits alone are insufficient to curb the problem, given Meta's immense market value and profits. He advocates for stronger regulation and legislative pressure, suggesting that even lawmakers might take notice if impersonation scams target them. As a last resort, he proposes that users consider leaving Facebook altogether, questioning the platform's value and its contribution to societal harm, citing past fines against Meta for its role in the Cambridge Analytica scandal and its impact on minors' mental health. He acknowledges the irony of sharing his critique on Facebook but suggests this might be his final post on the platform.