People who use social media have been issued a warning as some of the ads that they see may be "misleading and potentially fraudulent". The consumer experts at Which? found ads on both Facebook and Instagram which appear to provide misleading financial guidance.
Working with Demos Consulting, Which? found many risky investment adverts on the two platforms, which are part of the Meta parent company. Their research used human and automated analysis to find the potentially dodgy adverts.
It involved searching for risk factors such as the ad not including a risk warning or promising sensational, life-changing returns. Which? and Demos consulting came across adverts focused on a piece of software called 'Tesler' and there were multiple indications that they were probably scams.
