Potential scam ads are appearing on Instagram and Facebook, according to analysis from consumer group Which?
Consumers were warned by the financial watchdog to be alert to such investment scams when binary options were banned.
Enforcement can never be perfect, Meta told Which?, as both machines and human reviewers make mistakes. The consumer group's analysis identified 89 adverts with three or more red flags, such as a no risk warning or a claim that returns are guaranteed, among others, of which 23 had five or more red flags.
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