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Story summary
- Meta Platforms, Inc. (Meta) projected about $16 billion from scam ads in 2024, roughly 10% of revenue.
- The scam ads promoted fraudulent goods and services, including fake investment schemes and counterfeit products, although they were flagged as risky.
- U.S. Senators have called for investigations into Meta's practices, arguing it should not profit from fraud.
- A group of Swedish publishers is suing Meta for allowing scam ads that impersonate journalists.
