Social media platforms in Canada are hosting hundreds of ads from scam artists pretending to be news publishers, while suppressing authentic news content.
Scott Devitt, managing director of equity research at Wedbush, explains the growing interest in Meta as it continues to investment more in AI.
But for months, users of all three social sites have been persistently shown ads for get-rich-quick schemes masquerading as stories from legitimate news sources such as the CBC. The fake posts have also fueled concerns about foreign interference as the country prepares to hold an election. A frequent victim is Jagmeet Singh, leader of the New Democratic Party. Searching his name on Meta’s ad library in late January revealed dozens of active advertisements based on fake stories from anonymous accounts with names including ‘Nyteriosa’ and ‘Female Interest,’ both of which were based in Ukraine. One account led to an inactive email address and the other didn’t respond to a request for comment.
On a page spoofing the CBC, Prime Minister Justin Trudeau is falsely quoted endorsing an app called Depotalux. Depotalux’s site shares design and legal language with a site called Biffy AI, according to a scam alert released in June by consumer protection group ADC France. X did not respond to a request for comment. X’s website says the blue check is displayed “after a review to ensure subscribed accounts meet all eligibility criteria.”
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