"Meta has, as a matter of company policy, deliberately profited from rampant, inexcusable harm to users on its platforms. Meta told its users it was fighting fraud. Internally, it was charging scammers a premium for access to those same users. That is not a failure of enforcement, that is a business model built on predatory deception."
"These allegations misrepresent the reality of our work and we will fight them."
A class-action lawsuit has been filed against Meta in Washington, D.C., alleging deception regarding scam advertisements on Facebook. The complaint claims Meta profits from scams despite public assertions of combating them. Internal documents reveal that in 2024, Meta projected $16 billion in revenue from scam ads. Users encounter 15 billion high-risk scam ads daily, while Meta rejects 96% of valid fraud reports. An attorney stated that Meta's practices reflect a business model based on predatory deception, contradicting its claims of fighting fraud.
Read at Mashable
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