The governments of ten countries have called on social media operators to improve their ability to detect and prevent fraud from flourishing on their platforms.
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The call came in a communique issued in the wake of the Global Fraud Summit – a meeting that brought together representatives from Australia, Canada, France, Germany, Italy, Japan, New Zealand, the Republic of Korea, Singapore, the UK and the US – which kicked off on Monday.
The communique is a broadly worded document, which is typical of the output from international gabfests. But it gets specific in its claim that "Fraudsters operate at scale, exploiting telecommunications networks, cyberspace and a population that spends more and more time online."
Participants therefore suggested a four-pronged approach to dealing with fraud:
