"The lawsuit repeatedly cites an article by Reuters last month that revealed how Meta internally projected that 10% of its 2024 revenue - about $16 billion - would come from ads for scams, illegal gambling and banned products. Based on a cache of internal company documents, the article also reported that Meta doesn't block advertisers suspected of scams unless its algorithms are 95% certain that the marketer is engaging in misbehavior."
"The attorney general of the US Virgin Islands has sued Meta Platforms, accusing the Facebook and Instagram owner of deliberately profiting from advertisements for scams and failing to keep its social media platforms safe for children. The lawsuit also accuses Meta of misleading the public about its efforts to protect children and adults on its platforms, including Facebook and Instagram. "Meta repeatedly touts the 'safety' of its platforms to its users, parents, regulators, and Congress," the Virgin Islands lawsuit states."
Attorney General Gordon C. Rhea filed suit in the Superior Court of the Virgin Islands accusing Meta Platforms of deliberately profiting from scam advertisements and exposing users to fraud and harm. The lawsuit cites reporting that Meta projected roughly 10% of 2024 revenue could come from ads for scams, illegal gambling and banned products and that its systems only block suspected scammers at a 95% algorithmic confidence threshold. The suit seeks penalties under Virgin Islands consumer laws, alleges Meta misleads the public about protecting children and adults, and notes calls by two U.S. senators for SEC and FTC review.
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