ESET Research Warns Social Media Ads Are Major Scam Vectors
Fraudulent advertisements on trusted platforms generated billions in revenue, prompting regulatory scrutiny and new consumer guidance on identifying scams.
Key points
- Nearly one trillion scam ads were served to European social media users in 2025.
- Meta projected $16 billion in revenue from scam and banned goods ads in 2024.
- The US FTC is considering rules to force platforms to vet advertisers and monitor content.
ESET Research published an analysis highlighting the pervasive risk of fraudulent advertisements on trusted social media platforms, warning that users can trust the site but not the ads displayed within it. The report details how scam ads generate billions in revenue for platforms while exposing consumers to significant financial and data theft risks.
According to ESET Research, nearly one trillion scam ads were served to social media users in Europe during 2025, generating an estimated £3.8 billion in revenue for these platforms. In the United States, data is less transparent, but Meta alone projected that 10% of its 2024 revenue, amounting to $16 billion, would come from advertisements for scams and banned goods.
Regulatory Scrutiny and Platform Liability
The US Federal Trade Commission asked in September whether platforms should be required to stop impersonation scam ads from ever reaching consumers. The FTC’s concern centers on ad tools that generate copy, images, and video, optimizing audience reach regardless of legitimacy. The agency may consider forcing platforms to vet advertisers, monitor posted ads, investigate scams, remove fraudulent advertising, and pursue disciplinary action.
Banks in jurisdictions like the UK argue that social media platforms should do more to police this content and compensate victims, as banks are responsible for reimbursing customers for authorized push payment losses in some instances. However, social media companies are not legally bound to do so in the US, despite profiting from the ad revenue.
Scam Tactics and Consumer Impact
Nearly a third of people who reported losing money to a scam last year said it started on social media, according to ESET Research. These ads appear on search engines, e-commerce marketplaces, mobile apps, video sites, and messaging platforms. Common tactics include impersonating legitimate companies to lead users to phishing sites, offering limited-time deals to create urgency, and promising high-return cryptocurrency investments with no downside.
Other scam ads impersonate customer support for banks, promise mega giveaways requiring personal information, or scare victims with fake security warnings about infected devices. Some ads use clickbait with sensational headlines to engage victims. Malvertising may exploit browser vulnerabilities or trick users into installing malware, while other ads harvest card details via fake e-commerce sites or direct users to scam call centers.
What should you do?
The FTC’s rulemaking is at its earliest stage, meaning no new legal requirements for platform vetting are currently in place. Until regulations change, consumers must remain vigilant against ads that promise unrealistic returns or create artificial urgency. ESET Research advises that trusting a platform does not equate to trusting the advertisements running on it.
What to do and how to stay safe: ESET Research
- Verify the legitimacy of any company or offer by visiting the official website directly, rather than clicking links in social media ads or search results.
- Avoid providing personal or financial information in response to ads promising giveaways, high-return investments, or urgent security fixes.
- Be skeptical of ads that create a sense of urgency with limited-time deals or fake security warnings, as these are common scam tactics.
- Monitor bank and credit card statements for unauthorized transactions, and report any suspicious activity to your financial institution immediately.
Step-by-step guide: Social Engineering Warning Signs and How to Respond
General security guidance from the Threat Times newsroom. It is not confirmed advice from the organisations named in this story.
Frequently asked questions
How much revenue did scam ads generate for platforms in Europe in 2025?
Nearly one trillion scam ads were served to social media users in Europe in 2025, generating an estimated £3.8 billion in revenue for these platforms.
What is the FTC considering regarding social media platforms and scam ads?
The FTC is considering rules that may force platforms to vet advertisers, monitor posted ads, investigate scams, remove fraudulent advertising, and pursue disciplinary action.
What percentage of scam losses started on social media last year?
Nearly a third (30%) of people who reported losing money to a scam last year said it started on social media, according to ESET Research.
