Over 9,000 scam Facebook pages have been removed following reports that Australians lost a staggering $43.4 million to fraudulent celebrity deepfakes. In response to this growing issue, Meta has introduced a new tool called the Fraud Intelligence Reciprocal Exchange (Fire), designed to facilitate collaboration with seven banks to combat scams more effectively. Between January and August 2024, Scamwatch received reports of significant financial losses from scams on social media, with nearly $30 million attributed to fake investment schemes. The recent initiative by Meta aims to reduce the prevalence of misleading deepfake images of celebrities, which have been used to promote bogus cryptocurrency investments and other scams. With the implementation of the Fire tool, Meta has successfully blocked 8,000 pages and removed 9,000 fraudulent celebrity accounts in just the first six months. This effort is part of a broader strategy to enhance online safety and protect users from financial fraud.