US EditionMeta Allegedly Profited by $16B From Scam Ads. US Senators Demand FTC, SEC Probe
US senators demand FTC and SEC probe Meta for allegedly earning $16 billion from scam ads, seeking penalties and an end to deceptive advertising on social media platforms.
9 Articles
9 Articles
Senators Demand Meta Be Investigated For Billions In Profits From Facebook Scams - Meta Platforms (NASDAQ:META)
U.S. Sen. Richard Blumenthal (D-Conn.) and U.S. Sen. Josh Hawley (R-Mo.) have called for an investigation and regulatory action against Meta Platforms, Inc. (NASDAQ:META) over its alleged profiting from fraudulent advertisements on its platforms. Benzinga reached out to Meta, but did not receive an immediate response. META stock is moving. Watch the price action here. Citing reports from Reuters that revealed internal company documents, the sen…
Senators want FTC, SEC investigation into Meta making billions on scam ads
Two United States senators are calling for the Federal Trade Commission (FTC) and Securities and Exchange Commission (SEC) to investigate whether Meta is profiting from scam ads. A Reuters report, citing internal company documents, found that the company knowingly makes billions of dollars from these advertisements. “Meta’s central, facilitating role in scams against consumers is unprecedented: by its own employees’ assessment, Meta was involve…
The American political scene has once again stirred up the debate about the safety of social networks. Two influential senators, Josh Hawley and Richard Blumenthal, sent a sharp letter to local regulators, demanding a thorough investigation into the advertising practices of Meta Platforms. The reason? Suspicion that its social networks Facebook and Instagram have long profited from advertising that is close to fraud or even illegal goods.
Senators Josh Hawley (R-MO) and Richard Blumenthal (D-CT) are pushing for an investigation against Meta for allegedly making millions of dollars from "fraudulent" ads. The bipartisan duo sent a letter to the president of the Federal Trade Commission (FTC), Andrew Ferguson, and to the president of the Stock Exchange and Securities Commission (SEC), Paul Atkins. Read more]]>
Meta accused of earning 10% of revenue from known scams
U.S. Senators Josh Hawley and Richard Blumenthal have called for a federal investigation into Meta regarding alleged profits from scam advertisements on Facebook and Instagram, following a Reuters report detailing internal company documents. The call for an investigation stems from a Reuters article that, citing internal Meta documents, claimed nearly 10% of Meta’s 2024 revenue, approximately $16 billion, originated from “illicit advertising.” O…
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