A recent investigative report has now alleged that Meta, that the parent company of Facebook and Instagram, is now profiting billions of dollars through the scam advertisements which are now circulating on its platforms.
These deceptive ads, are often promoting fake investment schemes, various cryptocurrency frauds, or even are impersonating celebrities, are said to generate substantial revenue for Meta while putting users at significant financial risk.
According to the recent report, thousands of fraudulent ads slip through Meta’s automated ad review systems daily, which have been targeting unsuspecting users worldwide.
Despite Meta’s repeated claims of maintaining all the kinds of strict ad policies and AI-based detection tools, critics now argue that the company’s moderation systems still fail to prevent such ads from being displayed.
Many victims have now reported losing their savings just after clicking on these misleading promotions, which have been now sparking global concern over Meta’s accountability.
The investigation further reveals that scammers exploit Meta’s vast advertising network and make use of detailed targeting tools to reach specific demographics more effectively.
The more engagement these ads generate, the more Meta reportedly earns from the ad impressions and thus per clicks, which have been ultimately raising ethical questions about its profit-driven approach versus user safety.
Consumer protection agencies and even the digital rights organizations have demanded greater transparency from the Meta regarding all of its advertising practices.
They also insist that the company should take stronger measures to vet advertisers, refund victims of all the fraudulent ads, and enhance ad verification standards.
Governments in regions like the EU, US, and India are also pushing for stricter regulations to curb digital advertising fraud.
