A coalition of 42 state attorneys general, led by New York’s Letitia James, is urging Meta to take stronger action against investment scams on Facebook. These scams often misuse images of prominent figures like Warren Buffett and Elon Musk to deceive users into joining fraudulent investment schemes. Despite prior notifications, Meta has struggled to effectively curb these activities. The AGs recommend increased human oversight and, if necessary, a halt to investment ad placements until the issue is resolved. Meta acknowledges the challenge and emphasizes the need for collaborative efforts across industries to combat such scams.
— new from CNBC
