When someone’s down in the dumps we often ask: “What’s up?” Well, my general nature is to be positive but if I look a little annoyed and if you asked me this question, I’d say: “WhatsApp, that’s what!”

Why? Well, because the owners of WhatsApp — Meta or formerly Facebook — have a business that’s hurting my business and potentially helping scammers use my name and my reputation to swindle people out of their money.

These low life scammers have been using the Facebook platform and the local Meta people have been quick to kill videos and ads that have been using me to flog stock tips. Thankfully, Meta’s team takes action after we inform them (after my subscribers to The Switzer Report or my website Switzer.com.au, or my clients in our financial planning business, and those who listen to me on 2GB and 2CC or watch me on Sky News) alert us to these criminal acts on these social media platforms.

Of course, between the time we’re alerted and the time we tell Meta about it, some Aussies could be tricked into connecting with these money-robbing bastards, but that’s the best we can do. However, when it comes to WhatsApp, the expert advice that I have got goes like this: “The unfortunate reality is that anyone can pretend to be someone else on WhatsApp. I could just upload a photo and a name and say I’m Jesus, Donald Trump, etc…”!

That’s my “!”. It reflects the sad state of global politics when governments and their regulators can’t use the commonsense rule to ban a business that’s either corrupting or exploiting society.

With all its futuristic implications for our life, the digital era has in another way taken us back in time to the wild, wild, West, where gunslinging tech nerds are lawlessly doing what they want. And there’s not a Wyatt Earp sheriff in sight!

What the f…!

Until someone in Canberra, Washington and other seats of government power start crucifying these tech giants until they start playing a ‘holier’ game of business, they should be fined or refused a licence to trade, just like old-fashioned businesses that were barred if they didn’t play by the rules.

We need a politician who’ll run these online varmints out of town. But until that happens, I have to personally warn you that I don’t give stock tips online.

I only provide stock education and insights from experts in my paid subscriber newsletter called The Switzer Report. My TV show, out on Mondays, sees me interview fund managers, chart experts, brokers and the like to see what they like, but no one pays for that, and nothing is being sold.

So, that’s my warning to protect you if you see me in these fake ads or videos where I’m making stock market predictions. These are fake and they’re using images of me and even my voice to lure people in. There is a big problem created by these big tech businesses.

You see, these scumbags using social media platforms to get a free ride on my brand name makes it hard for me to do legitimate marketing of my business.

For example, if I wanted to put on a money education event, many people would wonder if it’s just another scam! Unregulated big businesses are making it easy for criminals to exploit unsuspecting consumers and hurt my business, and no one seems to be doing anything to stop it.

Meta takes down fake ads when we request it and I’m thankful for that. But someone in charge, who used to be called the leaders of this country, need to ask what can be done to stop this madness. And it might need financial penalties for the accessories to these crimes. When big business gets hit in the hip pocket, surprise innovations/solutions show up. Funny that.

Right now, a local billionaire is doing the fighting against tech businesses behaving questionably, that once was the job of governments.

On August 23, the AFR broke this good news: “Mining billionaire Andrew Forrest has scored an important win over US tech giant Meta in a US court, after a Californian judge threw out its attempts to avoid a trial over scam cryptocurrency advertisements featuring the Rich Lister, which have cost Australians millions of dollars.

“Dr Forrest has been battling to hold Facebook to account since victims of scams featuring his likeness began personally contacting him complaining about losing their savings, including a 72-year-old Western Australian who lost $250,000.”

This Forrest versus Meta is HUGE. If he wins, I expect future governments will introduce laws that make it easy for consumers who lose money and businesses that have lost income because of unchecked scammers, can be compensated.

This new era of digital ‘everything’ and artificial intelligence needs some old-world rules driven by the best artificial intelligence (AI) of all — actual intelligence!

Throw in some leaders who are not political ‘pygmies’ and we just might make the digital era something worth living with.

You might detect that I’m pretty cranky about all this. Well, I am because I hate my good name being used to potentially rob others. And my business is also being undermined, which is another reason for my political representatives to help me and others like me.

Finally, let me remind you what I said to Ben Fordham on 2GB this morning: “Scammers are using names and images to con people, please don’t be conned. Ben, I’m doing an Amy Winehouse screaming: “They tried to exploit you and me on Facebook. But I say no, no, no!!!”

In the SMH today, the Federal government is promising to crack down on big tech companies to help media companies that aren’t paid for their content that’s used, other businesses and consumers that suffer loss because of the practices of these social media platforms and the fraudsters who use them. Let’s hope their actions match their promises.