Reuters has issued a special report based on its investigation which revealed that Meta projected 10% of its 2024 revenue of $16 Billion came from ads for scams and bassed goods. The social media giant estimates that it shows users 15 billion scams daily. Reuters also pointed out that Meta has failed to identify and stop the fraudulent ads for at least three years. The Special Report says that “Meta earns about $7 billion in annualized revenue from this category of scam ads each year, another late 2024 document states.” The article also revealed that in the U.S., the Securities and Exchange Commission is investigating Meta for running ads for financial scams.
Jeffrey Newman is a whistleblower lawyer, whose law firm represents whistleblowers revealing violations of export controls, tariff evasions, money laundering, healthcare fraud and other kinds of WB cases. The firm represents individuals both in the United States and other countries. Mr. Newman and his firm also represent physicians and other healthcare providers who become whistleblowers in healthcare fraud cases. Whistleblower laws in the U.S. allow individuals anywhere with information about export control violations or tariff fraud to reveal the information under The False Claims act or through the Securities and Exchange Commission’s Whistleblower Program. The Firm’s website is at www.JeffNewmanLaw.com and attorney Newman can be reached at Jeff@Jeffnewmanlaw.com or at 978-880-4758
