Internal analysis at Meta reportedly indicates that scam advertising represented 10%, or $US16 billion, of the social media player’s revenue.
A special report by Reuters quoted “internal company documents” showing Meta platforms serve up estimated 15 billion scam ads a day.
“Among its responses to suspected rogue marketers: charging them a premium for ads – and issuing reports on ’Scammiest Scammers’,” Reuters reported.
“A cache of previously unreported documents reviewed by Reuters also shows that the social-media giant for at least three years failed to identify and stop an avalanche of ads that exposed Facebook, Instagram and WhatsApp’s billions of users to fraudulent e-commerce and investment schemes, illegal online casinos and the sale of banned medical products.”
However, a statement from Meta said the documents seen by Reuters “present a selective view that distorts Meta’s approach to fraud and scams”.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.