Revolut Report: WhatsApp and Telegram Rise to 39% of Fraud Cases in H2 2024, Meta Platforms Still Dominate

The global fintech company Revolut has released its third Consumer Security and Financial Crime Report, revealing a growing trend of criminals exploiting encrypted messaging platforms to target victims. According to the report, the proportion of fraud originating on WhatsApp and Telegram surged significantly in the second half of 2024.

While Facebook remained the most common platform for scams, accounting for 28% of reported fraud in H2 2024, there was a notable shift toward WhatsApp (21%) and Telegram (18%), collectively responsible for over a third of reported scams (39%). Telegram witnessed a staggering 121% increase in fraud cases in H2 2024, while WhatsApp cases rose by a similarly concerning 67%.

Source: Revolut’s Consumer Security Insights Report 2025

The report highlighted that despite this shift, Meta's platforms—including Facebook, Instagram, and WhatsApp—collectively accounted for more than half (54%) of all scams reported to Revolut globally in H2 2024, marking the third consecutive reporting period where Meta has held this position. In contrast, Google platforms were linked to a mere 0.09% of all fraud cases.

The report also revealed that purchase scams remained dominant, with their frequency showing no decline despite the evolving nature of fraud. Troublingly, H2 2024 saw ticket scams target younger demographics, with individuals aged 17-24 and 25-34 making up the vast majority of reported cases (36% and 38%, respectively)

Revolut has reiterated its call for social media platforms to take decisive action against fraud. The company emphasized the need for the proactive removal of scam content, verification of advertisers, and a commitment to sharing reimbursement for victims of scams originating on their platforms.