Amazon accuses social media companies fake review problem, ensuring they need to invest more money to remove fake review groups from their platforms.

Amazon has pointed out in a blog post published last Wednesday to lazy social media companies that have gotten in the way of their fight against fake reviews.

Amazon claims that its fake review detection and blocking systems have stopped most of them before they even appear, but also that certain "bad agents" have responded by stepping out of Amazon's reach and turning to social media to request fake product reviews.

Amazon accuses social media companies fake review problem

In the first 3 months of 2020, when Amazon alerted social media platforms to fake review groups, the platforms took "an average of 45 days to close those groups that used their services to perpetrate this abuse," according to Amazon.

Apparently, the process was expedited in 2021; Amazon says that in the first 3 months of the year Amazon reported 1,000 groups to social media companies, which responded by closing them down within 5 days.

Amazon accuses social media companies fake review problem

Social media companies, however, have to invest more in spotting fake reviews, the Amazon article states.

"While we appreciate that some social media companies have responded much faster, in order to address this problem to its extent it is imperative that they invest properly in proactive controls to detect and address fake reviews before we report them," Amazon says.

It is "clear that this is an industry-wide battle, and we need to work together to progress faster," continues Amazon's statement, which also acknowledges that its own detection systems were not "perfect."

Amazon accuses social media companies fake review problem

More news:

BBVA starts this Monday the services of purchase and custody of bitcoin for its private banking customers through its Swiss subsidiary

While the price of bitcoin continues to fluctuate strongly, the use of this cryptocurrency has received support in recent weeks. Thus, El Salvador recently approved adopting it as legal tender, which motivated a comeback in its price after weeks of volatility, and a survey of hedge funds has revealed forecasts of investing in this cryptocurrency despite Tesla has announced that it will stop accepting it because it considers it polluting.

However, as the decision of the company founded by Elon Musk reflects, many sectors are critical of bitcoin in particular and cryptocurrencies in general, such as the Bank of England, which has warned this week that they are too volatile to be used as a means of payment and that their investors could face the loss of all their money because they are not supported by real assets.

However, commercial banks are beginning to change their rejection of cryptocurrencies, as in the case of BBVA, which on Monday will become the first entity in the eurozone to offer its private banking customers bitcoin purchase and holding services through its subsidiary in Switzerland, as announced by the bank last December. in addition to optimizing your electronic banking and developing a new module to invest with stocks, ETFs or funds.

BBVA has explained that you have chosen to Switzerland to start this project, which have been developed during the last 2 years, because this country has one of the laws most advanced in the world in terms of criptodivisas, and digital assets, in addition to specialized companies in the technology, blockchain, according to Five Days, which reveals that the bank hopes to expand soon their services to other criptomonedas beyond bitcoin.

The spokesmen of the entity have emphasized that, with this service, BBVA becomes the first bank in the eurozone and one of the first in Europe to offer the ability to store and operate with bitcoin 24 hours a day, although in the Old Continent have been precisely the swiss banks the first to adapt their operations to offer services criptomonedas.

In addition, the bank takes 2 years to develop this project within their projects related to technology blockchain, on which takes 5 years working to improve its operational payments and international corporate financing, which ensures that BBVA has conducted a pilot test of its service bitcoin with 50 private banking customers of several countries to ensure that their operational functioning properly.

BBVA has assured that this decision corresponds to the increase in interest among its clients to operate with cryptocurrencies, an option that several neobanks and fintechs already allow. Thus, the company has highlighted that the percentage of private banking customers, i.e., those with more than 1 million euros of equity, interested in criptodivisas has gone from 2% to 10% or 20% in recent times. However, the bank has specified that they do not offer advice on crypto assets.