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Facebook cracks down on celebrity deepfake scams after $43 million in losses for Australians

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Meta launched a new Fraud Intelligence Reciprocal Exchange ( FIRE ) tool in Australia in an effort to cut down on the massive financial losses suffered by victims in the country.

The FIRE tool is, effectively, a joint effort between Meta and banks to collect information on online scams.

Australians had reported $43.3 millionaround $30 million USD — in losses from social media scams just from January through August .