Scammers Turn to Facebook Marketplace: 1 Billion Users!

After Facebook announced that its eCommerce platform has one billion active users, reports have emerged indicating that fraudsters are capitalizing on the growth to conduct larger operations.

ProPublica discovered that one Facebook Marketplace account had been hacked and used to publish roughly 100 phony listings for mobile phones and automobiles.

Despite the fact that Facebook claims to secure its users through a combination of automated systems and human evaluations, ProPublica’s investigation found those techniques intended to safeguard buyers and sellers from fraudulent accounts and deceptive listings proved ineffective.

Facebook Marketplace

Facebook Marketplace was launched in 2016 with the intent of getting people in their local communities to buy and sell things.

In April 2021, the platform reached one billion users, fueled by the worldwide pandemic.

“We had a great quarter as we continue to assist businesses develop and individuals stay connected,” Mark Zucherberg, founder and CEO of Facebook, said in company’s recent Q2 2021 results.

“I’m excited to see our major initiatives around creators and community, commerce, and building the next computing platform coming together to start to bring the vision of the metaverse to life.”

The findings are based on internal corporate papers, interviews with former employees, and law enforcement records that show the alleged hacking activity. The scams included phony and suspicious accounts advertising untrustworthy male enhancement pills in violation of Facebook’s ecommerce rules.

Facebook has published a helpful information sheet to assist its Marketplace consumers avoid frauds online, including advising them to be wary of gift card scams and counterfeit goods.