Leaked Documents Reveal Meta's Multi-Billion Dollar Revenue from Fraudulent Ads, Report Uncovers

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In TAMPA, Florida (NewsNation), it has emerged that Meta, the social media behemoth, anticipated that approximately 10% of its revenue for 2024—around $16 billion—would originate from advertisements promoting scams and prohibited products. This revelation comes from internal forecasts highlighted by Reuters.

Meta, the parent company of Facebook, Instagram, and WhatsApp, has struggled to identify and eliminate a deluge of advertisements that have subjected billions of users to deceptive e-commerce tactics, fraudulent investment ventures, illegal online gambling, and the marketing of banned medical items, as detailed in the Reuters report.

In related news, Florida universities face scrutiny over potentially wasteful spending practices.

According to a document from December 2024, Meta exposed users to an estimated daily average of 15 billion advertisements deemed “higher risk” for scams. Another internal report from the end of 2024 indicated that these types of ads contribute approximately $7 billion to the company’s annual revenue.

Further documents suggested that Meta was sluggish in taking action even after identifying the most egregious scammers. Some major advertisers, referred to within the company as “High Value Accounts,” reportedly managed to accumulate over 500 infractions without facing suspension, as per Reuters.

A Meta spokesperson told NewsNation the 10% revenue projection from policy-violating ads cited in the report was “rough and overly-inclusive,” not a “definitive or final figure.”

The spokesperson said the company aggressively fights fraud and scams, noting that over the last 15 months, reports from users about scam ads have declined by more than 50%.

“Unfortunately, the leaked documents present a selective view that distorts Meta’s approach to fraud and scams by focusing on our efforts to assess the scale of the challenge, not the full range of actions we have taken to address the problem,” the spokesperson said.

Meta reported more than $50 billion in ad revenue last quarter — up 26% year over year — bringing its total so far this year to $138 billion.

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Leaked Documents Reveal Meta’s Multi-Billion Dollar Revenue from Fraudulent Ads, Report Uncovers

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Leaked Documents Reveal Meta’s Multi-Billion Dollar Revenue from Fraudulent Ads, Report Uncovers

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