Meta is reportedly making a lot of money off scam ads.

A new investigative report from Reuters , citing Meta's own internal documents, found that the company's platforms show, on average, an estimated 15 billion "higher risk" scam advertisements to its users every day. Reuters reported that a 2024 document showed that Meta makes about "$7 billion in annualized revenue" from those scam ads each year.

The internal documents revealed by Reuters show that Meta expected as much as 10 percent of its 2024 ad revenue "would come from ads for scams and banned goods."

Wrote Reuters :

"A cache of previously unreported documents reviewed by Reuters also shows that the social-media giant for at least three years failed to identify and stop an avalanche of ads that exposed Facebook, Instagram

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