"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."
"We aggressively combat scams across our platforms to protect people and businesses - last year alone, we removed over 159 million scam ads, 92 percent of which we took down before anyone reported them, and took down 10.9 million accounts on Facebook and Instagram associated with criminal scam centers."
A class-action lawsuit was filed against Meta in Washington, D.C., alleging deception regarding scam advertisements. The complaint claims Meta profited from scams, projecting $16 billion in revenue from such ads in 2024. Users face 15 billion high-risk scam ads daily, with Meta rejecting 96% of valid fraud reports. An attorney stated that Meta's practices reflect a business model based on deception. In response, Meta claimed the allegations misrepresent their efforts to combat scams, highlighting their removal of millions of scam ads and accounts linked to scams.
Read at Mashable SEA | Latest Entertainment & Trending
Unable to calculate read time
Collection
[
|
...
]