FB and Instagram are hotspots for fake luxury goods: Research

The Meta platform owned by Facebook (FB) is storing to stop fake luxury goods on its app. According to academics, industry groups and investors, the platforms of the meta have emerged as hotspots for criminals of fake luxury goods. Benedict Hamilton, the managing director of a private inventory company, says Facebook and Instagram are the major marketplaces where fake goods are sold to the public. This used to happen 10 years ago on eBay and till five years ago on Amazon. According to this research headed by Ghost Information, fake brands seen on meta platforms, led by social media analytics firm, mimic brands like Gucci, Louis Vuitton, FEND, Prada and Chanel. This research has been shared with Reuters.

During the study conducted between June to October-2021, the firm identified accounts of more than 26,000 active fraudsters being run on Facebook. Accounts of more than 20,000 active fraudsters were found on Instagram. This is more than 2020, but less than 2019. In 2019, 56,000 such accounts were identified. The special thing is that about 65% of the forgery accounts found in 2021 were based in China. Such accounts were being operated 14 per cent from Russia and 7.5 per cent from Türkiye.

Ghost Information is Italy’s analytics firm. It is founded by Cyber ​​Security Expert Andrea Stropa. He is also the data analyst consultant of the World Economic Forum. The firm has a record of digital propoganda being spread on social media by fraudsters and Islamic State supporters.

Online commerce is a priority for meta. It has given new features of purchasing and has increased the company’s revenue. But users selling fake goods use the company’s platform and present problems for it. A Meta spokesman said in a statement that fake and fraud -related cell is a problem that always remains with new technology. We are getting better every day to stop it and tighten the fraudsters.