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00:03Meta reportedly projected nearly $16 billion in 2024 revenue from scam and banned product ads,
00:09about 10% of its total revenue, according to leaked internal documents cited by Reuters.
00:15The files revealed that Meta failed to stop a surge of fraudulent ads promoting scams,
00:20illegal gambling, and banned medical products, reaching billions of users.
00:25The documents estimated that Meta displayed about 15 billion high-risk scam ads daily,
00:31generating roughly $7 billion in annual revenue.
00:34Meta allegedly failed to act promptly against major fraudulent advertisers,
00:38allowing some high-value accounts to rack up over 500 violations without suspension.
00:44A company spokesperson said the figures were rough and overly inclusive,
00:48and added that scam ad reports dropped 50% in 15 months.
00:51For all things money, visit Benzinga.com.
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