Meta battles influx of scams on Instagram, Facebook, WSJ reports

Meta Platforms (META) is increasingly a cornerstone of the internet fraud economy, with the company accounting for nearly half of all reported scams on Zelle for JPMorgan Chase (JPM) between the summers of 2023 and 2025, Jeff Horwitz and Angel Au-Yeung of The Wall Street Journal reports, citing a person familiar with the matter. Other banks offering Zelle have experienced similarly high fraud claims originating on Meta, according to people familiar with the matter.