[Meta Accused of Profiting Massively from Fraudulent Ads] According to a report by Jinse Finance, internal documents from Meta Platforms (META.O) reveal that approximately 10% of the company's revenue in 2024, equivalent to about $16 billion, will come from fraudulent ads and ads for prohibited goods, highlighting regulatory loopholes in its advertising business. Meta's internal documents show that the social media giant has failed to identify and block a large number of illegal ads over at least the past three years, exposing billions of users on its platforms—Facebook, Instagram, and WhatsApp—to investment scams, online gambling, prohibited medical products, and other content. According to the company's internal estimates, the number of fraudulent ads pushed to users daily on its platforms reaches as high as approximately 15 billion.