An investigation has revealed that Meta, the parent company of Facebook, Instagram, and WhatsApp, may have earned up to 10% of its 2024 revenue, around $16 billion, from fraudulent ads. These included fake online shops, illegal casinos, and scams using celebrity images. Meta’s own data showed users viewed around 15 billion high-risk scam ads daily. The report also said Meta capped spending on removing such ads to 0.15% of its total revenue. Meta denied the claims, calling the figures “overly inclusive.” Estimates suggest global ad fraud losses could reach $172 billion by 2028 as AI makes scams harder to detect.
Firstpost | World News | News Live | Vantage | Palki Sharma | News
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