Meta Reportedly Made $16 Billion From Scam Ads

facebook is overrun with ads and posts from scammers. This isn’t news to Meta, it’s parent company. They allegedly estimated that 10 percent of their 2024 revenue-$16 billion USD-came from advertising for known or suspected scammers.

A recent report from Reuters reveals Meta executives know about the problem and aren’t likely to fix it. Internal documents show the company tracks scams spreading across Facebook, Instagram, and WhatsApp. Thes scams promote online casinos, sexual services, and healthcare fraud. Meta hesitates to crack down as it would reduce revenue from criminals paying to spread their influence.

Meta’s internal reports show its networks are vital for executing scams. Roughly one-third of triumphant online scams targeting the United States use Meta websites and apps. The company also found scammers exploit Meta platforms as they’re easier to use than competitors like Google. “it is easier to advertise scams on Meta platforms than Google,” one report stated in April.

These scams aren’t from peopel impersonating users. They come from advertisers using Meta’s official tools, implying a level of platform trust. You’d think these advertisers would face stricter policing, but that doesn’t seem to be happening.

A sliding scale of enforcement is (or was) applied to paying advertiser accounts. A low-level customer needed at least eight user-generated reports before action was taken. Higher-spending advertisers, however, could accrue dozens of reports without facing consequences. This suggests Meta prioritized revenue over user safety.