US senators call for investigation of scam ads on Facebook and Instagram

Senators cited Reuters reporting that Meta itself estimated its platforms were involved in a third of all scams in the USUS senators Josh Hawley and Richard Blumenthal have asked the heads of the Federal Trade Commission (FTC) and the Securities and Exchange Commission (SEC) to investigate revenue from ads on Facebook and Instagram that promote scams and banned goods.“The FTC and SEC should immediately open investigations and, if the reporting is accurate, pursue vigorous enforcement action where appropriate” to force Meta to disgorge profits, pay penalties and agree to cease running such advertisements, Hawley and Blumenthal wrote in a letter to the federal agencies. Continue reading...