10% of their revenue being generated from scam ads is an incredible volume. Think about it. 1 in 10 Meta employees are being paid through money scammed from vulnerable people. Imagine the volume of euro being raised by scammers through those ads.
I’ve recently reported one scam ad using an AI video of a famous Irish billionaire. I received feedback from the company that they found not enough evidence of fraud to remove the ad. It was pathetic. A multi billion dollar tech company trying to say they could not detect AI use on a video.
The fact is if the company were to eliminate this fraudulent activity they would take a significant hit on earnings and share price. Removing these ads would probably go against most of their internal metrics.
Time for the regulators to regulate. Citizens need to be protected. I would imagine those who were scammed could make the link for investigators to the source of scams. If the source is through an ad on one of these websites then Meta, or whoever, should be liable for the amount lost. I expect that would incentivise a change in approach.
Edit: Actually it could be more than 1 in 10 employees paid via scam revenue.
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*”Daisy, Daisy, give me your answer, do…!”*
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10% of their revenue being generated from scam ads is an incredible volume. Think about it. 1 in 10 Meta employees are being paid through money scammed from vulnerable people. Imagine the volume of euro being raised by scammers through those ads.
I’ve recently reported one scam ad using an AI video of a famous Irish billionaire. I received feedback from the company that they found not enough evidence of fraud to remove the ad. It was pathetic. A multi billion dollar tech company trying to say they could not detect AI use on a video.
The fact is if the company were to eliminate this fraudulent activity they would take a significant hit on earnings and share price. Removing these ads would probably go against most of their internal metrics.
Time for the regulators to regulate. Citizens need to be protected. I would imagine those who were scammed could make the link for investigators to the source of scams. If the source is through an ad on one of these websites then Meta, or whoever, should be liable for the amount lost. I expect that would incentivise a change in approach.
Edit: Actually it could be more than 1 in 10 employees paid via scam revenue.