India Collaborates with Google and Facebook to Combat Cryptocurrency Scam

【India Collaborates with Google and Facebook to Combat Cryptocurrency Scam】Golden Finance reports that India is working with tech giants Google and Facebook to intensify efforts to combat investment fraud involving cryptocurrency known as 'pig butchering'.

According to the Ministry of Home Affairs' 2024 annual report, these scams primarily target vulnerable groups such as unemployed youth, housewives, students, and individuals in financial distress. The report emphasizes the global nature of the problem, which also involves large-scale money laundering and cyber slavery. Cyber scammers often abuse Google's advertising services and Facebook's sponsored ads to launch fraudulent applications and malicious phishing schemes.