A stockpile of unreported documents show for the past 3 years Meta has failed to identify and stop ads that exposed Facebook, Instagram, and WhatsApp users to fraudulent e-commerce and investment schemes, illegal online casinos, and banned medical products, Jeff Horwitz of Reuters reports. On average, Meta shows its platforms’ users 15B “higher risk” scam advertisements a day, with the company earning about $7B in annualized revenue from this category of scam ads each year, according to several documents from 2024.
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