Meta has faced backlash in Australia for its failure to protect users from scams, resulting in losses of $95 million.
The prevalence of scams on social media platforms is a growing concern, with 76 percent of all social media scam losses in Australia being traced back to platforms like Facebook, Instagram, and WhatsApp.
The Australian government has introduced legislation to hold social media platforms accountable for scams, imposing fines of up to $50 million for non-compliance.
The company has been awarded a Shonky award, which highlights the worst products and services.
Other recipients of the award include health insurer NIB and products such as a vacuum cleaner and a juice.
This reflects the need for stricter oversight of digital platforms.
The ongoing issues with scams raise concerns about digital trust and the responsibilities of tech giants.
It is crucial for platforms to not only comply with regulations but also actively work to create a safer online environment.