"Meta estimates that ten percent of the company’s annual revenue comes from fraudulent ads on its services – amounting to a dizzying 16 billion dollars.

– Meta is earning billions from consumers being scammed. Even if the company gets fined – a process that takes years – the fines we have seen so far only amount to a fraction of these profits. In other words, Meta has no incentive to solve the problem. Meanwhile, the company doesn’t lift a finger to help its users, whether their profiles are misused in the scam ads, or they fall victim to the scams, Myrstad says. "

From the sources I have seen, that 10% was a projection for 2024, with goals to significantly reduce it in 2025 and 2026 onward. It also includes "banned" goods, which are not necessarily fraudulent nor illegal. I have not seen any data on whether or not Meta has achieved their goals of reducing fraud and banned goods advertising.

It should be easy: 10% of revenue from fraudulent ads? Fines amounting to 15% of the total revenue. This way, Meta will be incentivized to invest ~5% of its revenue on getting rid of that 10%.

Where is that quote sourced?

And somehow they are allowed to continue operating, and we accept them saying "we couldn't possibly actually police all this content! There's just too much of it. We're too large for such concerns!"

I really wish the rest of us could turn around and say, to their faces "That sounds like a you problem"

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