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Seanad
‹ An tOrd Gnó - Order of Business

Meta scam advertisements

Summary

Senator O'Reilly highlighted allegations that Meta earns billions from scam ads and called attention to fraud targeting vulnerable users through social media.

I want to carry on from something Senator Scahill raised yesterday and highlight how valuable some of these scams are to legitimate global corporations. In leaked internal documents, it is alleged that Meta earned almost $16 billion from scam ads in one single year, nearly 10% of its overall revenue. These scams include fake investment schemes, fake medicine and fraudulent online stores targeting ordinary people. Pensioners and vulnerable users are being tricked into fake investment opportunities by fraudulent advertisements appearing on Facebook and Instagram while the company hosting these ads continues to profit. In one recent case, a woman lost €27,000. For some people, that money is the result of years and years of saving. Once again, it is people who are the most hard-pressed and vulnerable who are most likely to be the victims of these, people who are trying to find a bargain online and end up losing out on hundreds of thousands of euro. Meta is profiting off of people who are being robbed and victimised. I do not believe that it cannot control this. It is disingenuous to act as if Meta is doing everything it can to pull these ads from its platforms. If it is making billions of euro off these scam ads, why would it pull them from its platforms? What is most shocking is that the maximum fine Meta could face under the Digital Services Act is estimated to be around €9 billion. In other words, even the largest possible fine can still be billions less than the revenue generated from scam advertising. If the profits are greater than the penalties, where is the incentive for Meta to act?

Before I finish, I congratulate the Junk Kouture 2026 winners from Bailieborough Community School, the school I went to. I commend their teacher, Ms Mooney, and the students Róisín, Emma and Eve on their stunning creation "Tír Gan Teanga, Tír Gan Anam", which earned them a place in the world finals. Congratulations to them.

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