Rising WhatsApp Scams Highlight Need for Stronger User Protections

The alarming rise of WhatsApp scams in 2024 has left UK consumers reeling, with fintech leader Revolut exposing the devastating financial toll. According to Revolut‘s latest Consumer Security and Financial Crime Report, Brits lost an average of £2,437 per scam on WhatsApp, despite the app’s reputation for secure, encrypted messaging. Woody Malouf, Revolut‘s head of financial crime, didn’t mince words: “WhatsApp has a fundamental responsibility to protect its users, and their current approach is clearly failing.”

Revolut‘s data paints a grim picture. In 2024, WhatsApp scams accounted for 21% of all reported fraud cases in the UK—more than any other European country. The numbers reveal a staggering 33% spike in WhatsApp scams from the first half of the year to the second, outpacing Instagram scams, which grew by 16%. Meanwhile, Facebook scams dropped by 31%, with victims losing an average of £478—far less than WhatsApp’s hefty toll.

The report underscores a broader trend: Meta platforms, including WhatsApp, dominated global scams in 2024, making up 58% of cases. Yet, not all tech giants struggle equally. Google, with its vast user base, accounted for just 0.09% of fraud incidents, suggesting big tech can curb fraud effectively when proactive measures are in place.

So why are WhatsApp scams thriving? Malouf points to a false sense of security. “The illusion of security on encrypted messaging apps like WhatsApp is being ruthlessly exploited by criminals,” he said. Many users assume a message from a known number is legitimate, lowering their defenses. But encryption, while safeguarding privacy, offers no shield against fraudsters whove infiltrated personal networks.

Revolut‘s findings suggest consumers are more vulnerable on WhatsApp than anywhere else, possibly because they trust the platform too much. Criminals exploit this, targeting users with sophisticated schemes. “We’re seeing consumers increasingly letting their guards down to messages received on WhatsApp more than any other platform,” Malouf added.

To combat this, Revolut is pushing for change. The digital bank calls for stricter verification on Meta platforms, AI-powered monitoring, and deeper collaboration between banks and law enforcement. They also argue social media giants like Meta should help reimburse victims—a stance echoed in their October critique of Metas “woefully short” data-sharing efforts with UK financial institutions.

Ironically, Revolut‘s own fraud record isn’t spotless. A BBC Panorama investigation last year found the bank topped UK fraud complaints, with £756,000 of every £1m deposited linked to authorized push payment (APP) fraud—dwarfing rival Monzo‘s £183,000 per £1m. Revolut insists it’s cut fraud by 20% and adheres to strict regulations, but the figures raise questions about its authority to critique others.

Still, the WhatsApp scam surge is undeniable. As fraudsters adapt, encrypted messaging‘s promise of safety feels more like a liability. For UK consumers, the cost is steep—both financially and emotionally. Revolut’s report is a wake-up call: stronger protections are urgently needed, and WhatsApp must step up before more lives are “devastated.”