Technology company Meta reportedly projects that 10 percent of its annual revenue comes from scams or fake ads on its app.
According to a Reuters report quoted in a TechCrunch report on Thursday (6/11), Meta projects that by 2024, 10 percent of its total annual revenue of US$16 billion will come from fake advertising in its application.
Documents accessed by Reuters show that Meta failed for three years to protect its users from ads promoting illegal gambling, investment schemes and banned medical products.
These fake ads pretend to offer non-existent products or services and are likely aimed at soliciting payments from unscrupulous users.
