Latest Social media News: Finextra Research

Fraudsters turning to encrypted messaging platforms to scam users Revolut warns

Revolut reports that fraud originating from WhatsApp and Telegram now accounts for well over a third of reported scams (39%), as criminals are increasingly turning to encrypted messaging services to exploit victims.

01 April 2025

News/security

UK Finance warns businesses to stay alert to tax year end scams

As the tax year end approaches, UK Finance’s Take Five to Stop Fraud campaign is urging businesses to stay vigilant against CEO and mandate scams – key tactics used by fraudsters to target businesses.

04 March 2025

News/crypto

Crypto prices spike after Trump’s strategic reserve announcement

On Sunday, US President Trump announced the creation of a “US Crypto Reserve” on Truth Social.

03 March 2025

News/retail

Lloyds, TSB, Halifax, and Nationwide among UK banks down on payday

British banks TSB, Bank of Scotland, Nationwide Building Society, Halifax, Lloyds and First Direct have reported problems for customers making payments this morning.

28 February 2025

News/payments

Chase to restrict Zelle payments stemming from social media

Chase has warned customers that it will start blocking payments to social media contacts through the Zelle P2P network over fraud concerns.

21 February 2025

News/payments

Musk's X secures Visa partnership for payments push

Social media app X says it has struck a deal with Visa ahead of the launch of a digital wallet and peer-to-peer payments service later this year.

28 January 2025

News/crime

53% of APP victims were satisfied with their bank’s response

To mark International Fraud Awareness Week, Payments System Regulator (PSR) has released research on the impact of Authorised Push Payment (APP) fraud on UK consumers.

22 November 2024

News/payments

Mama Money launches WhatsApp bank card

South African fintech Mama Money Financial Services has launched a new bank card that enables cardholders to manage their account and money through WhatsApp.

19 November 2024

News/retail

Banco Santander creates first band born on social media

Banco Santander is taking a leaf out of Simon Cowell's X Factor playbook, creating a band from young hopefuls in a contest promoted on social media platform TikTok.

23 October 2024

News/security

Meta forms data-sharing programme with UK banks to tackle scammers

Tech giant Meta says it will expand an information sharing partnership with UK banks after a pilot with NatWest and Metro helped take out thousands of scammers on its platforms.

03 October 2024

News/retail

Santander bids to create TikTok vibe with Gen Z

Santander is looking to burnish its credenttials with Gen Z, embarking on a search for talent on TikTok to create an online-native international music band.

30 July 2024

News/security

Banks and payments hit as faulty CrowdStrike update causes global Microsoft outage

Banks and card payment systems are among the victims of the worldwide tech outage on Microsoft platforms.

19 July 2024

News/security

EBAday 2024: Collaboration is key to fraud management

In one of the closing sessions of EBAday 2024 in Lisbon, panellists Marc Corbalan, VP of RTP analytics at Visa; Erwin Kulk, head of service development and management at EBA Clearing; Simone Löfgen, global head of payment platforms and managing director at Commerzbank; and Kannan Rasappan, founder and CEO of Banfico, explored innovations in cybersecurity in a panel titled ‘New approaches to fraud management’.

20 June 2024

News/crime

Lloyds warns against fraudsters on Booking.com and Airbnb

With summer holidays on the horizon, Lloyds Bank is cautioning customers against scams as they book their vacations.

12 April 2024

News/crime

Google sues crypto scammers using Play Store to lure victims

Google is suing two app developers who lured victims into downloading fraudulent investment apps on the Google Play Store.

05 April 2024

News/regulation

FCA warns FS firms and finfluencers to keep social media ads lawful

As it warns firms and so-called 'finfluencers' to keep their social media ads lawful, the UK's Financial Conduct Authority has published guidance for memes, reels and gaming streams promoting financial services.

27 March 2024

News/crime

'Pig-butchering' tops payment scam threats

Pig-butchering, an investment scam involving fake crypto companies, has emerged as one of the top payment threats facing consumers.

21 March 2024

News/regulation

Finra fines M1 Finance over misleading social media influencer posts

M1 Finance has been fined $850,000 by the Financial Industry Regulatory Authority (Finra) for social media posts made by influencers on the fintech's behalf.

18 March 2024

News/crime

MPE 2024: AI-driven misinformation and consumer education in fraud

In an exclusive interview at Merchant Payments Ecosystem 2024, trust and safety architect at Sift Brittany Allen spokes with Finextra on new challenges in the fraud space, and how the spread of misinformation on social media is a major concern with AI-driven technology.

15 March 2024

News/crime

CFTC cautions against AI: 'be wary of the hype'

The Commodity Futures Trading Commission (CFTC) has issued a customer advisory warning to the public to keep an eye out for artificial intelligence (AI) scams.

26 January 2024