Mark Cuban says Meta knowingly runs AI deepfake scam ads, alleging on an August episode of the Pivot podcast that he receives weekly emails from older people about a $294 diabetes cure he has never sold. Cuban, who co-founded the online pharmacy Cost Plus Drugs, called the platform "the worst of the worst" and said Facebook knows the victims are being ripped off. On Nov. 6, 2025, Reuters reported on internal Meta documents showing the company expected roughly $16 billion, or about 10% of its 2024 revenue, to flow in from ads pushing scams and prohibited products, with users seeing some 15 billion "higher risk" ads a day and one late 2024 document valuing that category at about $7 billion a year. Meta spokesman Andy Stone told Reuters the documents "present a selective view that distorts Meta's approach to fraud and scams" and called the 10% estimate "rough and overly-inclusive," saying user complaints about scam ads had fallen 58% over the prior 18 months and the company pulled down more than 134 million scam ads in 2025. The same documents note the Securities and Exchange Commission is looking into Meta over advertising tied to financial fraud, while the FBI's 2025 Internet Crime Report says people 60 and older lost $7.7 billion across 201,266 complaints, with AI appearing in more than 3,100 of those complaints and those victims losing over $352 million.
Meta Platforms Inc.Reuters-reported internal documents show Meta earns ~10% of revenue from scam/prohibited ads and the SEC is investigating it over financial-fraud advertising.
