Social media companies should not be 'generating advertising revenue from criminals'

The advertisements usually include claims about specific cryptocurrency trading platforms and websites.
Bank of Ireland has urged customers to be wary of false online articles that are designed to defraud consumers through cryptocurrency schemes, fake financial products, and investments.
The articles, which look like news articles from genuine media outlets, are false advertisements that fraudsters use to entice consumers to visit websites that may lead to the loss of money.
The articles usually feature a well-known personality or celebrity, combined with a controversial headline to entice clicks.
The advertisements usually include claims about specific cryptocurrency trading platforms and websites.

Head of Fraud at Bank of Ireland Nicola Sadlier said fraudulent advertisements are appearing online more often and social media platforms need to “step up and crack down”.
“Unfortunately, supervision of this is very inconsistent, at times it’s like a game of whack-a-mole trying to report the different scams to the social media companies and get them taken down.
“It’s unacceptable to see fraudsters operating so openly on social media. No company should be generating advertising revenue from criminals,” Ms Sadlier said.
Bank of Ireland has advised customers to avoid clicking on these advertisements and “if an investment sounds too good to be true, it’s probably fraud".
For more advice and information on fraud, visit boi.com/security or fraudsmart.ie.