Facebook and Instagram are paradises for scammers, reveal Meta’s internal documents
Reuters shed light on Meta’s lucrative business built on selling fraudulent ads on its platforms — Facebook and Instagram. Internal company documents obtained by the news agency show that 10.1% of Meta’s 2024 revenue, or US$ 16 billion, came from fraudulent/scam ads.
A December 2024 document shows Meta running an average of 15 billion fraudulent ads per day. Those add to 22 billion pieces of suspicious “organic” content (unpaid) — from hacked profiles offering crypto schemes to promises of miracle cures in groups, and fake listings on Facebook Marketplace.