Internal documents show Meta projected that roughly 10% of its 2024 revenue (about $16 billion) comes from ads promoting scams, banned goods, or fraudulent schemes on Facebook and Instagram, according to a Reuters investigation. The company’s own data estimates users see 15 billion scam ads every day, even as Meta publicly insists it is cracking down. Instead of banning many suspicious advertisers, internal records say Meta often charges them higher ad rates, creating a financial incentive that keeps the ads flowing. A similar story earlier this year uncovered 15,000 fake retailers posting ads on TikTok.

Via Reuters