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Leaked Meta Files Show Billions From Scam Ads as Regulators Investigate

Documents depict enforcement designed to avoid costly crackdowns by raising prices on suspected scammers rather than blocking them.

Overview

  • Internal projections reported by Reuters say Meta expected about 10% of its 2024 revenue—roughly $16 billion—to come from ads tied to scams and prohibited goods.
  • A December 2024 file estimated users saw about 15 billion higher‑risk scam ads each day, with about $7 billion in annualized revenue from that cohort.
  • Policies detailed in the documents include banning advertisers only at a 95% fraud‑certainty threshold, using auction “penalty bids,” and applying revenue guardrails that limited actions likely to cut more than 0.15% of company sales.
  • Some repeat offenders were allowed to keep buying ads for extended periods, with smaller fraud accounts needing multiple flags and certain high‑spending accounts reportedly accruing hundreds of strikes before removal.
  • Meta disputes the framing as selective and calls the 10% estimate rough, citing a 58% drop in global scam‑ad user reports and more than 134 million removals in 2025, as U.S. and UK regulators scrutinize the company with potential fines reported up to about $1 billion.