Internal documents from Meta, the parent company of Facebook, Instagram, and WhatsApp, show the tech giant projected late last year that it would earn roughly 10 percent of its annual revenue from advertising tied to scams and banned goods.
Reuters reports the documents reveal that for at least three years, Meta failed to prevent a flood of ads promoting fraudulent e-commerce and investment schemes, illegal online casinos, and banned medical products.
One December 2024 report notes that an estimated 15 billion “higher risk” scam ads – those showing clear signs of fraud – were shown to users every day.
