US Senators Call for Probe into Scam Ads on Facebook and Instagram
Two US senators, Josh Hawley and Richard Blumenthal, have urged the Federal Trade Commission (FTC) and Securities and Exchange Commission (SEC) to launch investigations into the lucrative revenue generated by scam ads on Facebook and Instagram. The pair believe Meta's lack of action against these advertisements constitutes a serious breach of trust.
Internal documents from late 2024 revealed that Meta rakes in approximately $16 billion annually from illicit advertising, with $3.5 billion coming every six months from "higher risk" scams. Notably, the company's anti-fraud measures appear to be ineffective in many cases, allowing scam ads to continue running despite being deemed a breach of its own rules.
Hawley and Blumenthal have expressed skepticism over Meta's efforts to curb illicit advertising, citing the company's ad library as evidence of the problem. According to the senators, advertisements for illicit activities such as gambling, payment scams, cryptocurrency schemes, AI-generated deepfakes, and fake government benefits can be easily found on this database.
The pair point out that Meta has reduced user reports of scams by just 58% over the past 18 months, raising questions about the company's effectiveness in tackling these issues. They have also expressed concern over the use of fake ads impersonating US politicians, with one example involving a bogus ad claiming Donald Trump was offering $1,000 to recipients of food assistance.
Hawley and Blumenthal's letter urges the FTC and SEC to take immediate action against Meta, including forcing the company to disgorge profits, pay penalties, and cease running these advertisements. The senators argue that Meta's focus on developing generative AI projects has come at the expense of safety measures, allowing scams to flourish on its platforms.
Meta has responded to this criticism by stating that it aggressively fights fraud and scams, but Hawley and Blumenthal remain unconvinced, citing the company's lack of transparency and ineffective anti-fraud rules. The outcome of this investigation will likely have significant implications for Meta and its advertising practices.
Two US senators, Josh Hawley and Richard Blumenthal, have urged the Federal Trade Commission (FTC) and Securities and Exchange Commission (SEC) to launch investigations into the lucrative revenue generated by scam ads on Facebook and Instagram. The pair believe Meta's lack of action against these advertisements constitutes a serious breach of trust.
Internal documents from late 2024 revealed that Meta rakes in approximately $16 billion annually from illicit advertising, with $3.5 billion coming every six months from "higher risk" scams. Notably, the company's anti-fraud measures appear to be ineffective in many cases, allowing scam ads to continue running despite being deemed a breach of its own rules.
Hawley and Blumenthal have expressed skepticism over Meta's efforts to curb illicit advertising, citing the company's ad library as evidence of the problem. According to the senators, advertisements for illicit activities such as gambling, payment scams, cryptocurrency schemes, AI-generated deepfakes, and fake government benefits can be easily found on this database.
The pair point out that Meta has reduced user reports of scams by just 58% over the past 18 months, raising questions about the company's effectiveness in tackling these issues. They have also expressed concern over the use of fake ads impersonating US politicians, with one example involving a bogus ad claiming Donald Trump was offering $1,000 to recipients of food assistance.
Hawley and Blumenthal's letter urges the FTC and SEC to take immediate action against Meta, including forcing the company to disgorge profits, pay penalties, and cease running these advertisements. The senators argue that Meta's focus on developing generative AI projects has come at the expense of safety measures, allowing scams to flourish on its platforms.
Meta has responded to this criticism by stating that it aggressively fights fraud and scams, but Hawley and Blumenthal remain unconvinced, citing the company's lack of transparency and ineffective anti-fraud rules. The outcome of this investigation will likely have significant implications for Meta and its advertising practices.
Like, how can a platform with so much power over people's online experiences just let scammers run wild? I mean, the numbers are crazy - $16 billion is no joke 
. And to think Meta's own ad library is basically an open book for scammers 
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. If Meta can't be bothered to share its anti-fraud measures or even show how many scams they've actually caught, what makes them think they're doing anything right? 
It's time for some serious accountability and not just empty promises from the company.
. The FTC and SEC need to take action ASAP - we can't keep letting scammers take advantage of people's desperation 
. Meta needs to step up their game and prove they care about user safety, not just making a quick buck 
. It's time for some real change! 
! I mean, $16 billion from scam ads is wild, like, who's counting that kind of cash? And they're right, Meta's ad library should be shut down ASAP, it's a breeding ground for fake ads. I've been saying this for ages, Facebook and Instagram are more focused on making money than keeping users safe 
, $16 billion from scam ads? That's just insane! I get it, companies need to make money, but at what cost? Facebook and Instagram are supposed to be safe spaces for us users, not places where we get scammed out of our hard-earned cash 
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. I get it, tech is cool and all, but not at the expense of our well-being! Something needs to change here... ASAP 
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like, what's going on? meta can't even stop scams from running wild on their own platforms. it's so ironic that they're always talking about safety measures while making bank off of fake ads. and to think they're diverting resources to generative ai projects... meanwhile, they're just letting scammers run amok 
We deserve better than to be scammed by companies we trust. It's time for some real action! 
. It sounds like they're more interested in developing generative AI projects than actually keeping users safe on their platforms 
.
Just kidding (kind of). But seriously, this investigation is long overdue. I hope the FTC and SEC take Meta's lack of transparency and effectiveness seriously and do something about it 
.
. That's just low, man. It's like they're tryin' to exploit people's trust for their own gain 
.
. The FTC and SEC need to take a closer look at this situation and make some real changes 
. We can't just sit back and let scammers run amok on these platforms 
.
like what even is the point of having ad library if you cant filter out the bad stuff? 
. If we can't trust our social media platforms to keep us safe from scammers, then what's the point? I hope Hawley and Blumenthal get some real answers out of this investigation 
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. If Meta can't even get its own house in order when it comes to scam ads, how can we trust them to regulate these kinds of issues on our platforms? It's time for some serious oversight and regulation 
. We need to ask ourselves what kind of safety measures are in place when we're using these platforms, and whether they're truly effective 
.
The FTC and SEC gotta do something about this ASAP! 
meta needs to get its act together ASAP and prioritize user safety over profits 
. We need to hold Meta accountable and make sure they're prioritizing user safety over profits