Meta Reportedly Made $16B From Scam Ads In 2024

Benzinga

Leaked internal documents indicate Meta generated around $16B in 2024 from ads tied to scams and banned goods, representing roughly 10% of total revenue. Meta acknowledged “higher-risk” ad categories exist but said the documents misrepresent its efforts to remove fraudulent content. Analysts warn the revelations could intensify regulatory pressure.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02MEDA generated an estimated $16 million in 2024 from ads promoting scams and banned goods,

00:08about 10% of its total sales, according to CNBC.

00:10A report based on leaked internal documents said the company earns roughly $7 million annually

00:15from deceptive higher-risk ads like fake e-commerce and investment schemes,

00:20illegal online casinos, and the sale of banned medical products.

00:23A report states that MEDA generates about $7 million annually from deceptive high-risk scam

00:28and serves roughly $15 million of them to users each day.

00:32Reuters said internal documents show MEDA seeks to cut bogus ads,

00:35but worries that we're moving them too quickly could hurt its business projections.

00:39MEDA's spokesperson said the leaked documents misrepresent the company's efforts

00:42by highlighting its assessment of fraud instead of its actions to combat it.

00:46For all things money, visit Benzinga.com.

Category

Transcript

Be the first to comment

Recommended