Oireachtas Joint and Select Committees

Tuesday, 24 October 2023

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Authorised Push Payment Fraud: Discussion (Resumed)

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
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These fraudsters are really sophisticated. I gave the statistics earlier from Britain, where 61% of all British payment frauds originated from Meta sites. There are advertisements on Meta's social media platforms from Elon Musk and Tesla, stating how people can just click a link and make €250,000 in the next couple of months. It does not take a wizard to figure out that that is a fraudulent advertisement, yet it runs. If we google Tesla on Facebook, it comes up over and over again. Meta has had these advertisements and the point is that it has accepted money for them. As I said, I know community groups which have put Facebook advertisements up and are not allowed to because the background music they used was from Beyoncé or whoever is up in the charts these days or, as I said, there might be an image with branding of Nike or such. Yet, we have these companies operating investment scams, using AI to put words in the mouth of Channel 4 presenters sitting at a news desk, and telling people that if they click the link and invest, they will not have to work ever again. Facebook is taking money from these advertisements. How the hell are they slipping through the checks that Meta has?