Meta Platforms internally estimated that about 10% of its 2024 global revenue — roughly $16 billion — came from ads linked to scams, fraud, and banned goods, according to internal documents reviewed by Reuters.
The reports, spanning 2021–2025, reveal Meta’s ongoing struggle to curb fraudulent ads across Facebook, Instagram, and WhatsApp. An internal analysis found users were served around 15 billion “high-risk” scam ads daily, generating nearly $7 billion in annual revenue.
Meta’s systems flagged much of this content but only permanently banned advertisers if fraud was 95% certain. Otherwise, it raised ad rates instead of removing them. The documents also showed that users who interacted with scam ads were often targeted with more such content due to Meta’s personalization algorithms.
Meta spokesperson Andy Stone said the figures were “rough and overly inclusive,” arguing that many legitimate ads were counted. However, regulators worldwide have increased scrutiny, urging stronger oversight and algorithmic transparency.
The findings highlight Meta’s core dilemma — balancing ad integrity with its revenue-driven model, as stricter enforcement could threaten a significant portion of its income.