Meta, the world's largest social media platform, is raking in billions of dollars from scam ads on its sites, including Facebook and Instagram. According to internal documents revealed by Reuters, users see 15 billion ads daily that promote scams, ranging from fake government benefits to deepfake advertisements for cryptocurrency.
Despite this, Meta has not done enough to remove these ads, despite knowing about the issue. The company's trust and safety team estimated that one-third of scams in the US involve a Meta platform. However, the company continues to prioritize profits over user safety.
The impact of these ads is devastating. Victims often lose money they cannot afford to lose, including elderly people on fixed incomes, young job seekers, immigrants, and others who are vulnerable due to life transitions or difficult circumstances.
For instance, Americans lost $16 billion in scams last year, with the Global Anti-Scam Alliance estimating that scammers worldwide stole over $1 trillion from people in 2024. These figures highlight the scale of the problem, but Meta's profits from scam ads far outweigh any efforts to address it.
The company claims it has taken steps to combat scams, including increasing its trust and safety team and removing certain types of advertisements. However, experts argue that these measures are insufficient and do not go far enough in addressing the issue.
One major concern is the use of AI-enhanced advertisements that can evade detection. These ads often involve deepfakes of famous entrepreneurs or politicians to promote fake investment opportunities or nonexistent government benefits.
Experts recommend several steps for Meta to address this problem, including lowering the barrier to removing scam advertisements, increasing the sophistication of tactics used to identify fraudulent ads, and instituting verified advertiser requirements.
Governments should also step in, with the Federal Trade Commission (FTC) having the authority to regulate "unfair or deceptive acts or practices," including false advertising. Regulators could require platforms to verify advertiser identity, review ads before they run, and allow independent audits of online advertising systems.
In addition, state-level legislatures can pass laws mandating similar requirements, while state attorneys general can launch consumer protection lawsuits under existing laws. Ultimately, Meta's profits from scam ads must be balanced against the harm caused to vulnerable users.
Despite this, Meta has not done enough to remove these ads, despite knowing about the issue. The company's trust and safety team estimated that one-third of scams in the US involve a Meta platform. However, the company continues to prioritize profits over user safety.
The impact of these ads is devastating. Victims often lose money they cannot afford to lose, including elderly people on fixed incomes, young job seekers, immigrants, and others who are vulnerable due to life transitions or difficult circumstances.
For instance, Americans lost $16 billion in scams last year, with the Global Anti-Scam Alliance estimating that scammers worldwide stole over $1 trillion from people in 2024. These figures highlight the scale of the problem, but Meta's profits from scam ads far outweigh any efforts to address it.
The company claims it has taken steps to combat scams, including increasing its trust and safety team and removing certain types of advertisements. However, experts argue that these measures are insufficient and do not go far enough in addressing the issue.
One major concern is the use of AI-enhanced advertisements that can evade detection. These ads often involve deepfakes of famous entrepreneurs or politicians to promote fake investment opportunities or nonexistent government benefits.
Experts recommend several steps for Meta to address this problem, including lowering the barrier to removing scam advertisements, increasing the sophistication of tactics used to identify fraudulent ads, and instituting verified advertiser requirements.
Governments should also step in, with the Federal Trade Commission (FTC) having the authority to regulate "unfair or deceptive acts or practices," including false advertising. Regulators could require platforms to verify advertiser identity, review ads before they run, and allow independent audits of online advertising systems.
In addition, state-level legislatures can pass laws mandating similar requirements, while state attorneys general can launch consumer protection lawsuits under existing laws. Ultimately, Meta's profits from scam ads must be balanced against the harm caused to vulnerable users.
, meta's just trying to make a buck and who cares about those scammers losing out? it's not like they're going to give up their entire profit margin to help victims of scams... and let's be real, most people are just too dumb to fall for fake ads anyway 
. governments and regulators are always so slow to act, but maybe that's just the way things should be - meta's gotta stay in business somehow 
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... how can a company like Meta not do more to stop these scams? It's like they're making money off people's misery 
. I mean, $16 billion lost by Americans alone last year is crazy 
. I'm all for profit, but come on! 
Can't Meta do better than this? 
the fact that 1/3 of scams in the US involve a meta platform is wild... shouldn't they be prioritizing user safety over profits? 
and govts need to step up their game too 
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I heard that AI-enhanced ads are a big problem too, it's like how do we even know what's real and what's fake anymore?! 
. They need to hold Meta accountable for putting profits over user safety 
. And yeah, the use of AI-enhanced advertisements is a major red flag 
. It's time for Meta to take real action to remove these ads and protect its users 
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. Elderly folks on fixed incomes, young job seekers... they can't afford to lose money to scammers 
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. They can't just keep taking money from vulnerable people and saying it's not their problem 
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FTC needs to get their hands on this ASAP! 
its so sad to hear about all these people losin money to scammers on meta. i mean we all deserve to feel safe online, especially when we're just tryna build our lives or find a new job 
. givin governments more power to regulate online advertising would also help, like FTC havin the authority 2 shut down scammers ASAP 
i mean, 1/3 of all scams in the US involve meta platforms - that's some serious neglect. 
. We need some serious regulation here, stat! 
. Governments need to step in and regulate these platforms more strictly 
. I'm all for Meta taking responsibility, but it seems like they're not doing enough to stop this mess 
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. Elderly people, young job seekers... they're getting scammed out of their life savings! 
. It's time to take responsibility for these scams and stop letting scammers get away with it! 
