Most e-fraud via social media

More than three out of four fraud incidents (over 77%) recorded in 2023 started on social media platforms, with Meta platforms such as Facebook, Instagram, WhatsApp and Messenger dominating as the vehicle for 61% of fraud incidents coming from social media and 40% of total money stolen.

The above is according to data from Revolut, according to which social media act as "fraud hotbeds," with shopping and investment fraud being the most common types of fraud, accounting for 70% and 12% of incidents, respectively, Revolut notes.

In Greece, Revolut's data reveal a similar picture to other countries, as in the second half of 2023 three quarters of fraud incidents originated from social networking platforms. Meta's platforms account for 67% of fraud incidents originating from social media and 40% of the total money lost in these incidents.

Calling on "the European...