Social media giant Meta expected about 10 percent of its 2024 revenue, roughly $16 billion, to come from running ads for scams and banned goods, according to internal projections reported by Reuters.

The company, which owns Facebook, Instagram and WhatsApp, failed to identify and stop "an avalanche of ads" that exposed billions of users to "fraudulent e-commerce and investment schemes, illegal online casinos, and the sale of banned medical products," according to the news wire.

Reuters cited a December 2024 document indicating Meta showed users an estimated 15 billion "higher risk" scam ads on average each day. Another internal document from late last year reportedly said the company earns about $7 billion in annualized revenue from such ads each year.

Other documents suggested Meta was

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