Meta Faces Scrutiny As Senators Link Facebook & Instagram To Billions In Scam Ad Revenue

Josh Hawley and Richard Blumenthal, two U.S. senators, have asked the FTC and SEC to probe Meta over an estimated $16 billion in scam ad revenue in 2024. A letter from the two to the agencies stated, "The FTC and SEC should immediately open investigations and, if the reporting is accurate, pursue vigorous enforcement action where appropriate," in order to force Meta to "disgorge profits, pay penalties, and agree to cease running such advertisements," per Reuters. Meta, for its salt, has not taken kindly to the assertions made by the Hawley-Blumenthal letter.

In a response, from Andy Stone, Meta states that the letter "Makes claims that are exaggerated and wrong. We aggressively fight fraud and scams because people on our platforms don't want this content, legitimate advertisers don't want it and we don't want it either." Meta also claims that it has reduced user reports of ...