Fraud Cartels Monopolize Big Tech. New Legislation May Stop That.
Americans lost billions of dollars to online scams originating on social media last year—more than on any other platform, according to new data from the Federal Trade Commission. Many of these schemes begin with advertisements purchased by fraudsters, including international fraud cartels, who use social media platforms to lure victims into fake investment opportunities, romance scams, and...
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Home – Big Tech News – Fraud Cartels Monopolize Big Tech. New Legislation May Stop That. opinion Fraud Cartels Monopolize Big Tech. New Legislation May Stop That. Stacy Washington • June 26, 2026 Print Sen. Chuck Grassley, R-Iowa, on June 9, 2026, in the District of Columbia. (Tom Williams/CQ-Roll Call, Inc via Getty Images) (function(){var t=document.querySelector(".wp-block-kadence-dynamichtml"),s=document.currentScript.previousElementSibling;if(t&&s){if("prepend"==="before_element")t.parentNode.insertBefore(s,t);else if("prepend"==="after_element")t.parentNode.insertBefore(s,t.nextSibling);else if("prepend"==="prepend"||"prepend"==="inside_first_child")t.insertBefore(s,t.firstChild);else t.appendChild(s);}})(); Americans lost billions of dollars to online scams originating on social…
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