Meta reportedly earned about $16 billion in 2024 from a massive amount of scam ads

PANews, November 9th – According to Jinse Finance, internal documents from Meta Platforms (META.O) reveal that about 10% of the company’s revenue in 2024, approximately $16 billion, comes from scam advertisements and ads for prohibited goods, highlighting regulatory loopholes in its advertising business. The internal documents show that the social media giant has failed to identify and block a large number of illegal ads for at least the past three years, exposing billions of users on its platforms—Facebook, Instagram, and WhatsApp—to investment scams, online gambling, prohibited medical products, and other such content. According to the company’s internal estimates, the number of scam ads pushed to users on the platform reaches as many as 15 billion per day.