Meta is facing lawsuits across the US, Australia, and the UK alleging that it knowingly profited from scam ads on Facebook and Instagram, with internal documents revealing that 10% of its 2024 revenue, roughly $16 billion, came from fraudulent advertising. The company's internal documents reveal that it calculated that scam revenue would exceed the cost of any regulatory settlement. The lawsuits allege that Meta profited through fraudulent ads such as deepfake celebrity endorsements, pump-and-dump stock schemes, fake investment platforms, and unauthorised impersonation of financial professionals. The most financially significant case involves a $500 million pump-And-Dump scheme involving Jayud Global Logistics, a Chinese stock listed on Nasdaq. A separate class action by Scott+Scott on behalf of financial professional professionals John Suddeth and Sara Perkins alleges that Meta allowed scammers to use their names, images, voices, and professional personas in paid advertisements, causing client diversion, reputational harm, and regulatory inquiries. The US Virgin Islands attorney general sued Meta in Superior Court, alleging that the company “knowingly profited” from scams and charged fraudsters for the right to advertise scams rather than removing them. In Australia, the Competition and Consumer Commission has been pursuing Meta in federal court since March 2022 over cryptocurrency scam ads that used the likenesses of businessman Dick Smith, television presenter David Koch, and former New South Wales premier Mike Baird. The UK Financial Conduct Authority found 1,052 illegal financial advertisements on Meta platforms in a single week in November 2025.