From Love to Fraud: How Facebook Is Trapping Indians in Costly Scams

It starts with a Hi first. Then an emoji of a heart. A nice note. And bang! Suddenly, you are out of your entire savings. In this age of scams and their “highly-skilled” scamsters, fraudsters are using Facebook to slip into your wallet as well as your DMs. 

Scamsters today have a scam for everything, from love to money to motorcycles.  And if you think, "I would never fall for that," think again.  Here are some genuine stories of how some Indians were fooled and why it is becoming worse. 

Doctor Who Believed a Facebook Ad and Lost Rs 36 Lakh

A well-known doctor from Barasat thought he was making a wise investment when he clicked on a Facebook ad for an organisation that gives financial advice.  The link brought him to WhatsApp, where smooth messaging and phoney success tales made him want to keep investing. After ten trades, he had lost a shocking Rs 36 lakh, only to find out that the "stock tips" were merely a scam. The group disappeared.  His money did too. The CID probe later led to the arrest of a film producer in Madurdaha.

"I Love You"- The Message That Cost a Banker Rs 7 Lakh

A 37-year-old banker in Karnataka lost Rs 7 Lakh of his savings after being duped on Facebook. It all started with a love message he got on Facebook. It was from a stranger’s profile. Everything seemed fine, and soon the two were talking every day. The woman said she was delivering him a package full of gold and cash. Then, a "customs officer" contacted and asked for money to let the package go. The man paid a total of Rs 7 lakh since he believed it all.  No Love. No package.  Just a broken heart and an empty wallet.

One in which Scammers Pretend to be Elon Musk

Yes, that’s true. Someone really did pretend to be Elon Musk.  One man was pleased, promised cryptocurrency returns, and ended up paying hundreds of dollars in gift cards to what he thought was a real offer.  The fraudster used a blue-ticked bogus account, AI, and a sense of urgency to get him to fall for it. 

Dream Bikes Selling for Rs 10,000 on FB- Big Red Flag

This one is a Facebook classic.  You may find high-end bikes worth Rs 2 to 3 lakh for about Rs 30,00, and the old models at a jaw-dropping price of Rs 10,000.  The caveat is that you have to pay a little "advance" upfront.  Then there is another charge for "transport."  Then, nothing on the radio.  The listing disappears.  Your money does too. Scammers typically send false photographs or videos to the customer to fool them.

What is Meta’s Response, and is it Enough?

Meta acknowledges the problem and has taken several steps to fix this menace. In March, it took down more than 23,000 Facebook sites and accounts that were trying to swindle people in India and Brazil.  That is a lot, but with so many new bogus accounts showing up every day, it is like playing whack-a-mole. Meta uses AI to find fraudulent accounts and dubious behaviour, yet a lot of them get through, especially when the schemes shift from Facebook to WhatsApp or Telegram.

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