Reuters recently disclosed internal documents showing that social media giant Meta may derive up to 10% of its revenue from online scam ads, with total estimates ranging between $7 billion and $16 billion. The Malaysian Communications and Multimedia Commission has expressed serious concerns, pointing out Meta's inadequacies in cooperating to combat cybercrime and calling for a stricter digital platform rating system. A Meta spokesperson responded that the report is selectively interpreted.
Report Reveals Doubts Over Meta's Ad Revenue
According to internal documents obtained by Reuters, Meta is accused of failing to effectively stop the spread of fraudulent investment and illegal gambling ads, and its advertising system may even push more similar content based on user behavior. The report estimates that such ads contribute a significant proportion of Meta's revenue.
Malaysian Government Criticizes Platform Regulation
Malaysian Minister of Communications Fami Fazil noted that in the past two years, the public in Malaysia has lost nearly $60 million due to e-commerce scams on Meta's platform. The government has repeatedly requested the removal of illegal content, but Meta has refused to accept the local licensing system on the grounds of "self-regulation," being criticized for allowing criminal activities to spread.
Discussion on Strengthening Regulation
In terms of platform responsibility, Malaysian officials suggest establishing a "public safety and cyber hazard rating system." Former Meta security investigator Abraham believes that tech companies should block illegal ad payment channels from the source, and their responsibility standards should align with those of the traditional financial industry.
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