The UK Financial Conduct Authority (FCA) reports that Meta repeatedly failed to prevent illegal advertisements for high-risk financial products. This occurs despite Meta's previous commitment to only host financial promotions from firms authorized by the regulator.
The FCA has consistently criticized the social media company for its slow removal of fraudulent financial content. [5]
Leaked internal documents suggest Meta was aware of the significant revenue it generated from these scam-related advertisements. [8, 13]