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Need Fake Currencies And Passport? Instagram Emerges As Budding Black Market

Recently, Instagram has emerged to be a shopping center for a wide variety of fake goods. These Goods can range from luxury clothing to designer shades. Research conducted has showed evidence of the existence of a more deep-rooted black market, which includes passports and fake currency.

NBC has monitored numerous accounts that have covertly offered fake currency and other forms of transactions. There were quite a few connecting people who contacted the concerned customer through encrypted WhatsApp messages. Instagram along with WhatsApp is owned by the social media giant Facebook.

These accounts uploaded pictures showing what seemed like stacks of money, including E.U. and U.S. currency. The accounts were deleted by Instagram following NBC News contacting the social media organization for comment. Out of these accounts, a particular one going by the name “LegitMoney12,” had made use of the Instagram feature of stories for promoting duffle bags full of cash. The image was captioned with a directive of securing that money. Further, this account had more than 3,000 followers, with claims of being 100% reliable. Instagram has deleted the account recently.

However, in spite of some of these accounts being removed, basic searches related to terms such as “fake money” have continued turning up hashtags in relation with counterfeit currency as well as accounts purporting to selling fake money.

A researcher of internet security as well as cyber-intelligence company Gipec’s founder, Eric Feinberg, stated that he found these accounts following suggestions from Instagram. He said that Instagram as well as Facebook have been designed this way, where their algorithms may be used to promote nefarious activities, be it selling illegal drugs, hate speech, counterfeit currencies or terrorism. It could not be determined by NBC News if these accounts had really been involved in sale of counterfeit bills. On his part, Feinberg confirmed to have been able in engaging with these accounts via WhatsApp.

Mary Wade
Mary Wade Subscriber
CONTENT WRITER At Global Industry Report

Mary Wade has studied masters in masters in air and space law and is working as a content writer. She writes about space, science, and stargazing. Formerly Mary has worked with one of the top space research institutes in the country. She writes space-related articles and news at our news portal. In leisure time, Mary likes to do doodling and believes that this improves her cognitive skills. She is intelligent with technical background knowledge.

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