Make social media platforms liable

The MCMC is considering licensing social media platforms operating in the country. It is finalising this licensing framework with the aim to enhance online safety and address content that violates national laws, such as financial scams and fraud. — FAIHAN GHANI/The Star

SOMETHING needs to be done to eradicate financial scams on social media platforms. The world and Malaysia cannot remain silent. So far, nothing much has been done despite the hundreds of billions of dollars of financial scams on these platforms.

Scammers are happily using platforms such as Facebook, TikTok, WhatsApp, YouTube and Instagram. In these scams, sophisticated, professional-looking fake investment websites operate fraudulent trading platforms to trick victims into depositing money.