Core Insights - Meta projected that 10% of its overall annual revenue, amounting to $16 billion, would be derived from fraudulent advertisements on its platforms [1] - For three consecutive years, Meta has not effectively protected users from ads promoting illegal activities, including gambling and investment schemes [1] - Meta's system for detecting fraudulent advertising campaigns only deactivates accounts if there is a 95% certainty of fraud, which allows some questionable advertisers to continue operating [4] Company Response - Meta spokesperson Andy Stone stated that the documents used by Reuters provide a selective view of the company's approach to fraud [5] - Over the past 18 months, Meta has reportedly reduced user reports of scam ads by 58% and removed over 134 million scam ads from its platforms [5]