A new study finds Facebook hosts the vast majority of social media scams, and critics argue it is because Meta prioritizes profit over protecting users, according to the New York Post. Internal documents obtained by Reuters show Meta projected $16 billion — about 10% of revenue — from scam ads last year. Experts say the company only bans advertisers when its systems detect a 95% probability of fraud, while charging higher ad fees to suspicious buyers, a system critics describe as “pay to play.” Former California prosecutor Erin West says the documents prove fraud is a “major moneymaker” for Meta. “To know that Facebook is aware of this and they tolerate it — and in fact, they even command additional fees from the worst offenders — is egregious… the practice itself is outrageous, jaw-dropping, unacceptable.” Data from fraud-reporting firm SafelyHQ shows Facebook is cited in 85% of scam reports that identify a platform, with more than 50,000 verified complaints collected so far. CEO Patrick Quade says the problem is far larger: “For 50,000 people to find us and independently document their losses implies a victim count in the tens of millions… This isn’t ‘cherry-picking’ — it is the overflow of […]