There's a lot more to this investigation than the headline suggests. Reuters has internal documents that show Meta is more concerned with losing ad revenue than combating scams and concluded that regulatory fines would likely be less than their revenue from scams.
mdhb•3mo ago
“A May 2025 presentation by its safety staff estimated that the company’s platforms were involved in a third of all successful scams in the U.S.“
cornonthecobra•3mo ago
that's really the problem. regulatory rules are so impotent violating them is nothing more than an operating expense for large corporations.
We need forfeiture of all revenue earned by violating activities, and C-suite criminal liability. Not that we'd ever get such measures, but it is what it would take, as documented in other countries that have successfully combatted corporate intentional misconduct like this.
damnesian•3mo ago
giving Amazon vibes.
mdhb•3mo ago
Meta projected 10% of its 2024 revenue would come from ads for scams and banned goods, documents seen by Reuters show. And the social media giant internally estimates that its platforms show users 15 billion scam ads a day. Among its responses to suspected rogue marketers: charging them a premium for ads – and issuing reports on ’Scammiest Scammers.’
dspillett•3mo ago
Call me cynical if you will, but only 10% seems to be a low-ball estimate to me.
hedayet•3mo ago
> "If the company is less certain – but still believes the advertiser is a likely scammer – Meta charges higher ad rates as a penalty, according to the documents"
In other words: More "uncatchable" scammers == higher scam rate == more $$$$ for Meta
I'd assume whoever came up with this scheme was rewarded handsomely by Facebook
Desafinado•3mo ago
Just imagine having to be the face of this company. Imagine telling your own kids this is how you made your fortune.
robhlt•3mo ago
mdhb•3mo ago
cornonthecobra•3mo ago
We need forfeiture of all revenue earned by violating activities, and C-suite criminal liability. Not that we'd ever get such measures, but it is what it would take, as documented in other countries that have successfully combatted corporate intentional misconduct like this.