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Meta shows users about 15 billion fraudulent ads daily, despite acknowledging the issue. Internal documents reveal the company is hesitant to fully combat fraud due to potential revenue loss, while regulators are increasing pressure for better protections.
Senators Josh Hawley and Richard Blumenthal urged the FTC and SEC to investigate Meta for profiting from scam ads on Facebook and Instagram. Internal documents revealed that Meta projected to earn $16 billion from illicit advertising, while the senators criticized the company's inadequate fraud prevention measures.
WhatsApp has deactivated 6.8 million accounts that were linked to criminal scam centers worldwide, as reported by its parent company Meta. The crackdown aimed to disrupt these scams, particularly those originating from Cambodia, and was conducted in collaboration with OpenAI.