State AGs Urge Meta to Combat Facebook Investment Scams

A coalition of 42 state attorneys general, led by New York's Letitia James, is urging Meta to enhance its efforts to combat investment scams on Facebook and WhatsApp, where criminals use fake ads featuring celebrities to lure users into pump-and-dump schemes, causing significant financial losses. They demand increased ad review and policing, or Meta should cease running investment ads altogether. Meta commits to investing in technology and partnerships to fight these scams.