#consumer-fraud

#consumer-fraud

Two U.S. senators are pushing the heads of the Federal Trade Commission and the Securities and Exchange Commission to probe Meta Platforms after a recent Reuters investigation revealed the social media giant earned $16 billion from advertising scams and banned goods in 2024. A letter from Senators Josh Hawley (R‑MO) and Richard Blumenthal (D‑CT) to the agencies calls for a full investigation into Meta, pointing out that internal documents show Meta earned about 10% of its annual revenue from scam and fraudulent ads last year.