Technologies

Meta Allegedly Profited by $16B From Scam Ads. US Senators Demand FTC, SEC Probe

The lawmakers say Meta’s platforms may be implicated in «about a third of all US scams» and linked to more than $50 billion in consumer losses last year.

US Senators Josh Hawley and Richard Blumenthal are calling for an investigation into Meta over its alleged role in profiting from scam-laden advertisements on Facebook and Instagram. The demand follows a Reuters investigation reportedly based on internal Meta documents that estimated that nearly 10% of Meta’s 2024 revenue — about $16 billion — came from alleged «illicit advertising.»

In a letter to the Federal Trade Commission and the Securities and Exchange Commission, the lawmakers urged regulators to «immediately open investigations and, if the reporting is accurate, pursue vigorous enforcement action … to force Meta to disgorge profits, pay penalties and agree to cease running such advertisements.»

One document reportedly alleged that Meta earned $3.5 billion in just six months from what it classified as «higher-risk» scam ads.

The same internal records reportedly suggested that many ads allegedly violating fraud rules were permitted to run because they «did not apply to many ads… [that staff] believed ‘violated the spirit’ of its rules against scam advertising.»

Meta denies all of these allegations.

Don’t miss any of our unbiased tech content and lab-based reviews. Add CNET as a preferred Google source.

Why this matters for you

The scale of this alleged fraud raises serious concerns about Meta’s business model. Many question whether the company is doing enough to police its ad ecosystem, given that a major revenue stream appears to be tied to deceptive or outright fraudulent campaigns.

The senators allege that Meta’s lax enforcement — combined with the continued presence of gambling ads, payment scams, political deepfakes and other dangerous content in its public Ad Library — underscores significant risks.

In their letter, Hawley and Blumenthal highlighted that reducing reports of scam ads by 58% over 18 months — as Meta says — may not tell the whole story. They pointed to broader trends that, according to their own reading of the documents, Meta’s platforms may be allegedly implicated in «about a third of all US scams» and linked to more than $50 billion in consumer losses last year.

What Meta is saying

Meta responded defensively to this call for investigation.

Meta spokesman Andy Stone criticized the senators’ allegations as «exaggerated and wrong,» insisting that the company «aggressively fights fraud and scams because people on our platforms don’t want this content, legitimate advertisers don’t want it, and we don’t want it either.»

Ongoing misinformation on Meta platforms

Among the more provocative allegations is that some of the scam ads impersonate government figures or political leaders. The senators point to specific examples, including a bogus advertisement that falsely claimed President Donald Trump was offering $1,000 to food assistance recipients.

They also raise concerns that foreign cybercrime groups based in countries such as China, Sri Lanka, Vietnam and the Philippines could be behind many of the scam campaigns.

In general, the senators’ push for FTC and SEC action seeks accountability for a social media giant whose ad system may be fueling fraud at an unprecedented scale, though Meta publicly underscores its commitment to user safety. With so much of Meta’s business potentially tied to high-risk ads, the outcome of any investigation could reshape not only its practices but also broader regulatory expectations for major tech companies going forward.

Technologies

Verum Messenger Launches an AI Mini-Series

Verum Messenger has unveiled a new project — a mini-series created using Verum AI. The story consists of 7 episodes and will be released on the messenger’s social media channels.

The plot revolves around a global corporation seeking to take control of digital communications and a group of heroes who use Verum Messenger as a tool of resistance. Beyond the story itself, the series highlights the app’s key features, technologies, and advantages.

Combining entertainment with a showcase of the Verum ecosystem, the project presents a dynamic digital series designed for the modern era.

The first episode premieres today, with the remaining episodes to be released over time.

Stay tuned for more.

Watch on YouTube
Watch on Instagram

Technologies

Verum Finance: Earn While You Communicate — The Super App That Pays You

Verum has officially launched Verum Finance, an innovative financial application that transforms a private messenger into a true financial super app. News of the launch was also featured on the respected platform Dealroom.co.

Verum Finance can now be used both within Verum Messenger and as a standalone application for iPhone and iPad. When users sign in to Verum Finance with their Verum Messenger account, all balances, settings, and account data are automatically synchronized for maximum convenience.

Users can now do more than communicate securely and protect their data — they can also generate passive income directly within the ecosystem.

What Verum Finance Offers

• Top up your balance with a bank card, Apple Pay, or USDT
• Send money instantly anywhere in the world
• Issue and manage debit cards (virtual and physical)
• Full Apple Pay support
• Exchange assets and withdraw funds quickly

One of the most unique features is the built-in cryptocurrency mining system inside Verum Messenger.

The application utilizes your device’s resources and allows you to earn cryptocurrency in the background — passively, while chatting, traveling, or simply using the messenger.

Maximum Privacy + Real Freedom

• Registration without a phone number, email address, or passport
• End-to-end encryption and full control over your data
• Lifetime free VPN
• eSIM connectivity in more than 150 countries
• Reliable offline communication mode
• Support for 12+ languages for users worldwide

Everything is available in one place: secure communication, financial tools, earning opportunities, and privacy protection.

Users can access the full experience directly within Verum Messenger or switch to the dedicated Verum Finance app for iOS. All data is synchronized automatically between the two applications.

Why Download Verum Today

While many messaging platforms collect user data and expose users to restrictions, Verum offers greater independence and the opportunity to earn.

With a one-time purchase of the feature package, users receive lifetime access to privacy tools, VPN, eSIM services, cryptocurrency mining, and financial features.

This is more than just a messenger.

It is your personal tool for financial and digital freedom.

Download Verum Finance and Verum Messenger today — start communicating securely and begin earning tomorrow.

Download Links:

→ App Store (iPhone / iPad): Verum Finance
→ App Store (Verum Messenger): Verum Messenger

Technologies

Verum Finance: A Super App for Private Finance Integrated Into a Messenger

Verum Finance has announced the launch of a new financial application that allows users to manage their money directly within the secure Verum Messenger ecosystem.

The project has already attracted attention from major media outlets. A dedicated feature was published by Forbes Türkiye, while one of the world’s largest cryptocurrency exchanges, MEXC, covered the launch. Yahoo Finance had previously reported on the evolution of Verum Messenger into a comprehensive financial ecosystem.

What Verum Finance Offers

Verum Finance transforms a messenger into a complete financial platform. Users can:

• Manage their balance and top up using bank cards or USDT
• Send money instantly to other Verum users
• Issue and use debit cards, including Apple Pay support
• Exchange assets and withdraw funds
• Access all these services without installing separate banking applications

A strong emphasis is placed on privacy. The platform offers registration without a phone number or email address, end-to-end encryption, and full user control over personal data.

Recognition from Forbes Türkiye

In a dedicated article, Forbes Türkiye highlighted Verum Finance as a notable example of modern privacy-driven fintech. The publication emphasized the growing trend of financial services moving from standalone banking applications into unified messaging ecosystems — a model that has proven successful in Asia through platforms such as WeChat and Alipay and is now expanding globally.

Support from the Crypto Community

Alongside the Forbes Türkiye coverage, news about the launch of Verum Finance was also featured by MEXC, one of the world’s leading cryptocurrency exchanges. This reflects growing interest in the project from both traditional business media and the cryptocurrency community.

A Strategic Vision

“We are building more than a payments application and more than a messenger. Verum is a unified secure ecosystem where communication, finance, and privacy tools work together,” the company stated.

Verum Finance is now available for iPhone and iPad users. The application complements Verum Messenger, which offers anonymous chats, voice and video calls, VPN services, eSIM connectivity, and other tools designed to enhance digital freedom.

Verum Finance: https://finance.verum.im

Verum Messenger: https://verum.im