Twitter announces new financial scams policy
Twitter said the consequences for violating the new policy will depend on the type and severity of the violation as well as the previous history of the violations.
The company said users are not allowed to create accounts, post tweets, or send direct messages that solicit engagement in fraudulent schemes. Examples of prohibited, deceptive tactics under the new policy include relationship/trust building scams, money flipping schemes, fraudulent discounts and phishing scams.
Twitter said the consequences for violating the new policy will depend on the type and severity of the violation as well as the previous history of the violations. The actions the company may take could include locking of accounts, blacklisting URLs, tweet deletions and temporary account locks, and also permanent suspension.
A Twitter spokesperson said the policy is aligned to support the efforts of government of India to combat online financial frauds.
“We’re announcing a policy expansion to prohibit financial scams on Twitter. This expansion enables us to take effective action against financial scams that deceive others into sending them money or personal financial information via scam tactics, phishing, or other fraudulent or deceptive methods,” the spokesperson added.
Twitter had detailed its platform manipulation and spam policy in March 2019, but the platform manipulation and spam violations at the time had not specified financial frauds. It could not be ascertained what action has Twitter taken on complaints of financial frauds so far.
Twitter however clarified that it takes action on accounts that engage in deceptive scam, phishing or other fraud tactics but that the company does not intervene in financial disputes between individuals who use Twitter such as claims related to the sale of goods on Twitter, disputed refunds from individuals or brands or complaints of poor quality of goods received.
The company said under the new policy, users may not deceive others into sending them money or personal financial information by operating a fake account or by posing as a public figure or an organisation. Users may not engage in ‘money flipping’ schemes like guaranteeing to send someone a large amount of money in return for a smaller initial payment via a wire transfer or a prepaid debt card.
Users may not operate schemes which make discount offers to others wherein fulfilment of the offers is paid for using stolen credit cards or stolen financial credentials. Users may also not pose as or imply affiliation with banks or other financial institutions to acquire others’ personal financial information. The company said for severe violations, accounts will be permanently suspended at first detection.
Examples of severe violation under the new policy will include operating accounts where the majority of behaviour is in violation of the policies, and creating accounts to replace or mimic a suspended account. Users can report violations of the policy by selecting report tweet from the drop down menu and selecting the option ‘it’s a financial scam’ and then selecting the option that best tells the company how the tweet is suspicious or spreading scam.