Last year, Meta projected that 10% of its overall annual revenue — $16 billion — would come from fraudulent advertisements on its apps, according to a report from Reuters.

The documents accessed by Reuters also show that for three years, Meta failed to protect its users from ads promoting illegal gambling, investment schemes, and banned medical products. These fraudulent ads purport to offer a product or service that isn’t actually real, and may be intended to solicit payments from less savvy users.

Image Credits: Facebook (Screenshot by Reuters)

Meta has a system for detecting the likelihood that an advertising campaign is a scam, but the company only deactivates an advertiser’s account if it is 95% sure that the advertiser is committing fraud. Otherwise, Meta will charge more money

See Full Page