From CNBC: 2025-06-11 12:00:00

A coalition of 42 state attorneys general, led by New York AG Letitia James, calls on Meta to crack down on investment scams using images of Warren Buffett and others on Facebook. Scammers lure users into pump-and-dump schemes, resulting in millions in losses. Meta struggles to control cyber scams on its platforms globally.

The AGs urge Meta to enhance ad policing to prevent scams or cease investment ads entirely. AG Letitia James is joined in the effort by fellow attorneys general from California, Connecticut, Georgia, Massachusetts, Michigan, New Jersey, and Pennsylvania. Thousands of Facebook users have lost hundreds of millions to fraudulent ads, prompting a bipartisan call for action.

Read more: State AGs urge Meta to clean up platform