[madspindel]

"Meta estimates that ten percent of the company’s annual revenue comes from fraudulent ads on its services – amounting to a dizzying 16 billion dollars.

– Meta is earning billions from consumers being scammed. Even if the company gets fined – a process that takes years – the fines we have seen so far only amount to a fraction of these profits. In other words, Meta has no incentive to solve the problem. Meanwhile, the company doesn’t lift a finger to help its users, whether their profiles are misused in the scam ads, or they fall victim to the scams, Myrstad says. "

[darkwater]

It should be easy: 10% of revenue from fraudulent ads? Fines amounting to 15% of the total revenue. This way, Meta will be incentivized to invest ~5% of its revenue on getting rid of that 10%.

[latexr]

Considering that 10% percent estimate seems to come from Meta themselves, if they were fined that amount what would stop them from just estimating lower next time?

[alphawhisky]

Yes but also include accountability in the boardroom. If illegal things happen, a human needs to see court, not a company. Let the "risk takers" actually take on risk.

[limagnolia]

The US Postal Service seems to derive upwards of 90% of their revenue (Or at least of the mail I receive) from similar scams. Are they going to have the same fines applied to them?

[limagnolia]

From the sources I have seen, that 10% was a projection for 2024, with goals to significantly reduce it in 2025 and 2026 onward. It also includes "banned" goods, which are not necessarily fraudulent nor illegal. I have not seen any data on whether or not Meta has achieved their goals of reducing fraud and banned goods advertising.

[dotandgtfo]

Considering the absolute deluge of politicians and celebrities allegedly promoting financial scams on norwegian Facebook my hunch is absolutely not.

[Nursie]

And somehow they are allowed to continue operating, and we accept them saying "we couldn't possibly actually police all this content! There's just too much of it. We're too large for such concerns!"

I really wish the rest of us could turn around and say, to their faces "That sounds like a you problem"

[brador]

It’s like fake products on Amazon. The numbers are jaw dropping, the punishment non existent.

If a real store had that much fake stock it would be shut overnight.

[notachatbot123]

Where is that quote sourced?

[llm_nerd]

https://www.forbrukerradet.no/news-in-english/digital-produc...

You can find the 10% from scam thing all over the place. ala-

https://www.reuters.com/investigations/meta-is-earning-fortu...