When Cathy called into The Ramsey Show, she was already six months into a nightmare. The 68-year-old from Texas admitted she had gotten involved with an “online investment group” and wound up losing everything. (1) She retired from her job of 36 years and cashed out her entire 401(k) and pension — handing over $487,000. In addition, she borrowed $50,000 from her brother, who also invested $110,000 of his own money. Must Read "Last month they ghosted us and froze our accounts, and we lost it all," Cathy ...

Relationship investment scams can start with a simple text or DM. Scammers try to form a friendship with you—before offering a phony investment opportunity. Once the bait is taken, they vanish, along with your money.Learn more: https://t.co/0p52dbDwzE https://t.co/dlj0a4YZW1 ...

Relationship investment scams can start with a simple text or DM. Scammers try to form a friendship with you—before offering a phony investment opportunity. Once the bait is taken, they vanish, along with your money.Learn more: https://t.co/0p52dbDwzE https://t.co/BpQo5Y6GkU ...

The SEC’s Office of Investor Education and Advocacy urges investors to be vigilant for investment scams related to natural disasters, including the recent Texas floods.Learn more: https://t.co/i0VUOhsL1r https://t.co/76fq8uS7KK ...

Relationship investment scams can start with a simple text or DM. Scammers try to form a friendship with you—before offering a phony investment opportunity. Once the bait is taken, they vanish, along with your money.Learn more: https://t.co/0p52dbDwzE https://t.co/FBVOk0BBMi ...

Regulatory Focus - Shenzhen authorities in China issue warnings against stablecoin investment scams due to increasing public interest [1] Cryptocurrency Market - Public interest in stablecoins is rising, prompting regulatory concern [1]

Core Viewpoint - A coalition of 42 state attorneys general is urging Meta to take stronger action against investment scams on its platforms, which exploit the images of well-known figures like Warren Buffett to defraud retail investors [1][5]. Group 1: Nature of the Scams - Criminals are bypassing Meta's automated and human review systems to post fraudulent ads, resulting in significant financial losses for retail investors [2]. - The scams often involve fake ads that promise access to investment opportunities linked to famous investors, leading users to join chat groups on WhatsApp where they are manipulated into participating in pump-and-dump schemes [2][3]. Group 2: Impact on Users - Thousands of Facebook users have reportedly lost hundreds of millions of dollars due to these scams, highlighting the urgent need for Meta to enhance its ad review processes [5]. - The ongoing nature of these scams persists even after being reported to Meta, indicating a systemic issue within the company's oversight mechanisms [2]. Group 3: Broader Context - Meta is facing challenges in controlling the proliferation of cyber scams across its platforms, which have been described as a "cornerstone of the internet fraud economy" [4]. - The issue is not limited to the U.S., as evidenced by a lawsuit from an Australian billionaire claiming that Meta's advertising algorithms have created and promoted false ads using his likeness [4].