A Study on Inpersonate Online Ads

Investment Fraud on Meta in Japan as a Case

Abstract

Online investment scams, which deceive individuals with non-existent or misleading investment opportunities, are causing significant financial losses globally. This study investigates the tactics employed by scammers in Japan, specifically through impersonation investment advertisements. By analyzing ads posted on Meta from March 21 to April 20, 2024, we identified 2,141 such ads within a single month, most of which directed users to the messaging app LINE. The repeated posting of similar ad content indicates that scammers persist in their activities despite the platform's efforts to remove these ads from the platform. This persistence highlights the need for more effective measures to combat online investment scams.