💨 Abstract

Meta has removed 8,000 "celeb bait" scam ads from Facebook and Instagram, collaborating with Australian banks to combat the practice. These ads use AI-generated images of celebrities to trick users into investing in fake schemes. The Australian government plans to introduce an anti-scam law with fines up to A$50 million for non-compliance.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖