Thousands of fraudulent adverts have been allowed to run on Meta platforms, according to a report last month. Investment fraud on social media has surged dramatically over the past three years, with Instagram and Facebook the most frequently reported platforms, while TikTok and LinkedIn are linked to the highest average financial losses per victim. In fact, £75 million is lost each year to investment scams on social media alone.
In terms of where in the world are users most exposed to these dodgy financial ads, the company BrokerChooser.com has assessed the Meta Ads Library and analysed more than 5,000 active finance-related ads to identify the countries where users are most susceptible to this growing wave of online financial deception.
Locations in the world where social media users are the most at risk of financial scams
| Rank | Country | Total finance- related ads on Meta | Safe ads % | Risky ads % | Scam ads % | Proportion of dodgy ads (risky & scam) |
| 1 | South Africa | 32 | 0.00% | 62.50% | 37.50% | 100.00% |
| 2 | Belgium | 68 | 5.88% | 83.82% | 10.29% | 94.12% |
| 3 | Turkey | 215 | 8.37% | 78.14% | 13.49% | 91.63% |
| 4 | Germany | 44 | 9.09% | 79.55% | 11.36% | 90.91% |
| 5 | United Arab Emirates | 130 | 9.23% | 79.23% | 11.54% | 90.77% |
| 6 | Pakistan | 185 | 9.73% | 74.05% | 16.22% | 90.27% |
| 7 | Spain | 55 | 10.91% | 83.64% | 5.45% | 89.09% |
| 8 | Australia | 98 | 16.33% | 66.33% | 17.35% | 83.67% |
| 9 | India | 296 | 17.91% | 71.96% | 10.14% | 82.09% |
| 10 | United States | 252 | 24.21% | 62.30% | 13.49% | 75.79% |
| 11 | France | 16 | 25.00% | 75.00% | 0.00% | 75.00% |
| 12 | Italy | 26 | 30.77% | 65.38% | 3.85% | 69.23% |
| 13 | United Kingdom | 65 | 33.85% | 56.92% | 9.23% | 66.15% |
In terms of the above table:
Scam ads: Make unrealistic financial claims, promise guaranteed returns or risk-free passive income.
Risky ads: Promote speculative strategies or unregulated endorsements without proper risk disclaimers.
Safe ads: Educational or neutral content promoting regulated services without exaggerated claims.
The data suggests thatsocial media users in the UK are comparatively less exposed to misleading financial promotions, with the lowest share of dodgy ads identified (66.15%), likely due to stricter regulations and enforcement. A third of ads (33.85%) were classified as safe, with Italy following closely behind with 30.77% of ads deemed safe and a notably low share of scam ads of just 3.85%.
In contrast, South Africa has the highest proportion of dodgy financial ads on Meta. Hence, South Africans are the most vulnerable to financial scams on social media, with all finance-related ads analysed on Meta identified as either risky or outright scams. Of these, over a third (37.50%) were confirmed scams, while around three in five (62.50%) were deemed high-risk. This reflects South Africa’s broader cybersecurity challenges as the country ranks fifth globally for cybercrime density.
Belgium ranks second with over 94% of financial ads on Meta platforms considered dodgy. The country has the highest share of risky ads at 83.82%, exposing Belgian users to misleading content that blurs the lines between legitimate investments and scams. Many promote speculative digital currencies and prop trading, boasting claims like “instant account” and “no challenge sign up”, large funding offers up to 500K, and access to “100+ digital currencies” with “ultra-low spreads”. Slogans like “fire your boss” are used to lure users with promises of financial independence.
Turkey online users are the third most at risk, with 91.63% of financial ads on Meta deemed dodgy. Safe ads only make up 8%, while over three-quarters (78.14%) are risky. They tend to promote forex trading, enticing users to “join telegram for daily updates & profits” or offering “free daily forex signals with 85%+ win rate accuracy”. Scam ads (13.49%)frequently promise guaranteed returns—such as “$1500 per week from a $300 investment”—and push AI-driven trading platforms, claiming “99% accuracy” and with “no effort needed”. These too-good-to-be-true claims are typical hallmarks of fraud.
Germany and the United Arab Emirates round out the top five with 90.91% and 90.77% of finance-related ads considered dodgy, respectively. In the UAE, scammers commonly use high-pressure language to create urgency such as “Hurry! Invest now in stock market before the prices totally go up” and tout unrealistic gains like “120% refund on your first payout” and “Get up to 220% return on investment within 50 days“. This inflated and time-sensitive language is a clear red flag.
