Report: Meta Projected $16B Revenue From Scam Ads in 2024

Published NOV 6

story

Above: The logos of Meta, Facebook, Messenger, Instagram and WhatsApp are displayed on a phone screen. Image copyright: Piotr Swat/SOPA Images/Getty Images

The Spin

Establishment-critical narrative

Meta knowingly profits from scam advertising, with internal documents revealing the company projected $16 billion in 2024 revenue from fraudulent ads promoting fake investment schemes and illegal products. Despite claims of aggressive enforcement, former Meta executives warn that scam prevention technology has stagnated while criminals use AI to create more convincing deepfake ads that platforms fail to stop effectively.

Wired

Patrick Bet-David on X

Pro-establishment narrative

Meta has comprehensive advertising standards and robust enforcement systems to protect users from scams and fraud. The company prohibits deceptive practices through detailed policies and uses both automated and manual review processes to catch violations before ads go live. Meta's multi-layered approach includes removing over 134 million scam ads this year alone and has achieved a 50% decline in user reports about fraudulent content since summer 2024.

CNBC Meta

Limited Coverage

This story currently has limited reporting from right-leaning sources. We will continue to monitor all major outlets and update our coverage as additional perspectives become available.