Meta has removed 6.8 million WhatsApp accounts linked to scam operations in just the first half of this year, according to a new report. The action comes amid a dramatic rise in investment scams on social media, with cases tripling since 2019 and annual losses in the UK soaring from £13 million to £75 million.
Research from forex broker experts at BrokerChooser, who analysed more than 5,000 finance-related ads in the Meta Ads Library, reveals the countries where users are most exposed and the phrases scammers most commonly use.
Where Scam Ads Are Most Prevalent
South Africa tops the list for scam exposure, with 37.5% of finance ads identified as outright scams and a further 62.5% classified as risky. The UK had the lowest overall exposure rate at 66.15%, though over half (56.92%) of ads were still flagged as risky.
Fraudsters often exploit personal messaging platforms such as WhatsApp, Telegram and Instagram to communicate directly with victims, bypassing Meta’s detection systems.
How Scammers Hook Their Targets
The analysis found that scam ads frequently include calls to action like “Visit Instagram profile”, “Send WhatsApp” and “Join Telegram”. These are often paired with urgency-driven phrases such as “Limited time” and “Don’t miss out” to pressure users into acting quickly without due diligence.
WhatsApp scams often follow predictable patterns, making them easier to identify if you know the warning signs. One common tactic is an unsolicited message from an unknown number, sometimes claiming to be a friend or family member in urgent need of money. Scammers may also pose as legitimate companies, offering “special deals” or “investment opportunities” that require you to click on a suspicious link or share personal details. Poor grammar, unusual spelling, and an overly urgent tone are also strong indicators that a message is not genuine.
Investment-related scams frequently promise guaranteed returns or exclusive opportunities if you act immediately. If a message pressures you to move the conversation to another app, requests upfront payments, or asks for personal financial information, it should raise immediate concern.
Protecting Yourself Against Investment Scams
Experts stress that the best defence is awareness. Users should stick to regulated platforms, check for clear risk disclaimers, and research both the company and individuals behind any investment offer. A healthy dose of scepticism towards adverts promising risk-free or overly high returns can be the difference between a sound investment and a costly mistake.
To block a potential scammer on WhatsApp, open the chat with the suspicious contact, tap their name or number at the top, and select “Block”. You can also choose “Report Contact” to alert WhatsApp to the suspicious activity. This helps prevent the sender from contacting you again and may assist in removing other scam accounts. As a rule, never click links or download files from unknown contacts, and verify any claims through official sources before responding.
One of the Editors for Tech on the Go, I love covering mobile tech and social media. I also manage the reviews we cover so all the writers stay on my good side!
