Meta Allegedly Profited by $16B From Scam Ads. US Senators Demand FTC, SEC Probe
NegativeTechnology
- US Senators have called for investigations by the FTC and SEC into Meta, alleging that the company profited approximately $16 billion from scam advertisements on its platforms, which are implicated in about a third of all scams in the US and linked to over $50 billion in consumer losses last year.
- This situation poses significant reputational risks for Meta, as it faces increased scrutiny over its role in facilitating scams, which could lead to regulatory repercussions and impact its business model and user trust.
- The scrutiny of Meta's practices reflects ongoing concerns about the company's accountability and transparency, particularly in light of recent allegations regarding its handling of user safety and the risks posed to vulnerable populations, including children.
— via World Pulse Now AI Editorial System
