Anne Boden, CEO of the UK-based digital-only bank Starling Bank, spoke of the Facebook and Instagram boycotts in her annual letter to customers and shareholders, explaining the decision as rampant fraud on these platforms.
“We want to protect our customers and the integrity of our brand, said Boden. – And we can no longer pay for advertising on the platform together with scammers who are looking for the savings of our customers and other banks. “
She added that “Has repeatedly accused the big tech giants and social media giants” that they gave shelter to financial fraudsters.
Starling Bank was founded in 2014. He currently has over 2.5 million customer accounts. A bank spokesman had previously told Bloomberg that the boycott of advertising platforms began in December 2021.
Boden also wrote that she expects Meta to deliver on its promised anti-fraud solutions. As Bloomberg noted, Google took a similar move in August.
“While Facebook (Meta) can make all sorts of promises for the future, I really hope its attention for the Metaverse does not divert attention from what is right here and now in the UK today in 2022,” wrote Boden.
There have been reports of boycotts of ads on the meta platform in the past, but companies usually cited social reasons for the ban, such as the lack of moderation of hateful content.