Nov 09, Kathmandu - It has been revealed that social media company 'Meta' is making billions of dollars from fake ads that are horribly deceiving to users.

It has been found that a large portion of Meta's revenue, the parent company of Facebook, WhatsApp, and Instagram, is generated by fraudulent or scam ads.

According to an internal report prepared by Meta late last year, it earned 10 percent of its total revenue, or about $16 billion, from advertising for scams and banned products.

According to Reuters, the social media company Meta failed to identify and block ads for fake e-commerce and investment schemes, illegal online gambling and banned medical products for at least three years. The ads were seen by billions of users on Facebook, Instagram and WhatsApp.