Experts warn that social media advertising is luring users into illegal money laundering activities

Social media giants TikTok and Instagram are raising quite a few eyebrows after law enforcement agencies accused them of being involved in some illegal activities. This includes helping criminals launder money, knowingly or unknowingly.

Anyone caught in the act faces up to 14 years in prison and could even be banned from social media from holding or opening bank accounts. Meanwhile, social media advertising and short video apps are also gaining traction. Here they showcase people holding huge sums of money and offering great chances to get funds quickly.

All respondents are contacted by those who offer to transfer funds to the account. They are ordered to transfer huge amounts of money to different places and the rest remains in their pockets. In certain situations, funds are transferred abroad. In such cases, they may be asked to withdraw funds in cash.

But whether applications realize this or not is a completely different question. But what we can confirm for now is how it helps criminals in money laundering activities, which is an illegal and serious criminal act.

According to reports from BBC NewsThe number of cases in the UK is rising and those involved do not realize the danger they are part of. One man had no idea he was involved.

People see advertisements that encourage them to make money quickly online. They fall for scams, and Instagram accounts featuring pictures of cars, luxury homes and travel are a common place where it all starts. Everything glitters gold, except that it’s not the same.

Quick money ads really entice people to do some really crazy things and in no time they become part of the conversation with the money mules or their recruiters. After text messaging, bank details are transferred and deposits and withdrawals begin.

As long as the victim follows the instructions, he can proceed, but otherwise the ATMs swallow the cards and other problems arise, causing all accounts to be closed immediately. One man described how he was informed that he would not be able to obtain bank accounts for six years due to activities in which he was once involved. They end up on the domain blacklist. If you need a mortgage, loan or credit card, you won’t be able to get one.

According to a report by UK regulator NCA, social media is the main means of recruitment for these illegal activities. Both Instagram and TikTok are common hiding places, so these apps require investigation.

Meta’s owner says he has worked closely with the country’s banks and other investigators to help investigate similar crimes. The tech giant’s goal is to put an end to criminal activity once and for all. In the spring of 2024, he was able to remove 95% of videos that violated the fraud policy. This was before the incidents became known. Meanwhile, Snapchat is also regularly subject to similar scams. We make every effort to keep illegal content in the app and make it available to authorities if and when they request it.

So what should everyone say? Well, if a deal seems too good to be true, it probably isn’t.

Image: DIW-Aigen

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