{"id":41899,"date":"2026-04-23T14:45:58","date_gmt":"2026-04-23T14:45:58","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=41899"},"modified":"2026-04-23T14:45:58","modified_gmt":"2026-04-23T14:45:58","slug":"meta-accused-of-knowingly-generating-16000000000-from-scam-ads","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=41899","title":{"rendered":"Meta Accused of \u2018Knowingly\u2019 Generating $16,000,000,000 From Scam Ads"},"content":{"rendered":"

\"\"<\/p>\n

The Consumer Federation of America (CFA) has filed a class-action lawsuit against Meta Platforms, accusing the social media giant of failing to protect users from scam advertisements.<\/p>\n

The CFA, an association of non-profit consumer organizations, is seeking<\/a> to recover damages and illegal profits after filing the Superior Court lawsuit in Washington, D.C.<\/p>\n

Says the complaint,<\/p>\n

\u201cMeta claims it is doing all it can to crack down on scam advertising on its platforms. But in reality, Meta has knowingly taken steps and adopted policies that pad its bottom line at the expense of its users\u2019 safety and well-being. In fact, rather than prohibiting advertisers who the company itself has determined pose a higher risk to its users (as other tech companies like Google have), Meta just charges these advertisers more.\u201d<\/em><\/p>\n

The lawsuit claims Meta is raking in billions of dollars annually through scam ads.<\/p>\n

\u201cMeta earns roughly $7 billion in annualized revenue from this \u2018high risk\u2019 category of advertisements alone. In 2024, internal documents at Meta projected that it would earn about 10% of its overall annual revenue, approximately $16 billion, from allowing advertising for scams and banned goods to run on their platforms, including Facebook.\u201d <\/em><\/p>\n

In a statement to media outlets, a Meta spokesperson denies the claims.<\/p>\n

\u201cThese allegations misrepresent the reality of our work and we will fight them.\u201d <\/em><\/p>\n

The lawsuit contends that Meta is violating the D.C. Consumer Protection Procedures Act (CPPA), a law that makes it illegal to \u201cengage in an unfair or deceptive trade practice\u201d and prohibits unlawful trade practices in connection to advertisements of consumer goods and services.<\/p>\n

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The post Meta Accused of \u2018Knowingly\u2019 Generating $16,000,000,000 From Scam Ads<\/a> appeared first on The Daily Hodl<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

The Consumer Federation of America (CFA) has filed a class-action lawsuit against Meta Platforms, accusing the social media giant of failing to protect users from scam advertisements. The CFA, an association of non-profit consumer organizations, is seeking to recover damages and illegal profits after filing the Superior Court lawsuit in Washington, D.C. Says the complaint, […]<\/p>\n","protected":false},"author":1,"featured_media":41900,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[],"tags":[],"class_list":["post-41899","post","type-post","status-publish","format-standard","has-post-thumbnail"],"yoast_head":"\nMeta Accused of \u2018Knowingly\u2019 Generating $16,000,000,000 From Scam Ads - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=41899\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meta Accused of \u2018Knowingly\u2019 Generating $16,000,000,000 From Scam Ads - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"The Consumer Federation of America (CFA) has filed a class-action lawsuit against Meta Platforms, accusing the social media giant of failing to protect users from scam advertisements. 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