Leaked documents from Meta Platforms Inc. reveal a projected $16 billion revenue in 2024 from scam ads and banned goods, nearly 10% of total revenue. The flood of fraudulent ads exposed billions of users to illegal schemes and products. Meta displayed an estimated 15 billion “higher risk” scam ads daily.

These ads contributed about $7 billion of Meta’s annual revenue, with slow action against scammers. “High Value Accounts” amassed over 500 strikes without shutdown. Despite claiming a decrease in user reports about scam ads, leaked documents tell a different story, potentially damaging Meta’s reputation and trust.

Read more at Yahoo Finance: Leaked Documents Unveil Meta’s $16 Billion Revenue Projection From Scam Ads