Meta accused of profiting from scams targeting US retirees Several US retirement advocacy groups have asked Congress to investigate Meta, alleging the tech giant has profited from fraudulent advertisements that target and scam seniors. These groups claim Meta has not acted quickly enough to remove these scams, exposing older adults to significant financial risks. A Meta spokesperson denied the accusations, stating the company actively works to combat scams and cooperate with law enforcement.

• Retirement advocacy groups have urged Congress to investigate Meta for allegedly profiting from fraudulent ads targeting seniors.
• Groups like the Alliance for Retired Americans and the American Federation of Teachers sent a letter to House Homeland Security Committee leaders.
• They claim Meta has failed to act quickly against fraudulent Medicare ads, leading to seniors being scammed while Meta profits.
• A Meta spokesperson rejected the criticism, asserting the company actively combats sophisticated scams and works with law enforcement.
• This adds to Meta’s ongoing scrutiny over misinformation, fraud, data privacy, antitrust, and youth mental health impacts.
• Previous reports suggest fraudulent advertising could account for a significant portion of Meta’s revenue.
• Meta faces international regulatory pressure, including a large antitrust fine in Europe and being designated an extremist organization in Russia.