Facebook and Instagram owner facing multi-billion legal action over scam adverts

Facebook and Instagram owner facing multi-billion legal action over scam advertsCampaigners acting on behalf of fraud victims bring group legal action amid claims social media platforms enable scammers Share Article Share Article Facebook X LinkedIn Reddit Bluesky Email Copy Link Link copied Bookmark Add us as preferred source Comments By Matt Nixson 14:26, Sun, May 31, 2026 Updated: 14:36, Sun, May 31, 2026 Facebook owner Meta is facing a group legal action over fraud on its platforms (Image: AFP via Getty)Facebook and Instagram owner Meta is to face a multi-billion pound group legal action after being accused of enabling scam advertisements that have devastated the financial lives of tens of thousands of Britons. Every year, tens of thousands of people are scammed out of their savings after responding to fraudulent online advertisements promoting fake investment schemes, cryptocurrency fraud and bogus financial products. window.scriptsToLoad.push({url:'https://live.primis.tech/live/liveView.php?s=118222&vp_content=plembed3a6btjknzwqh&cbuster=%%CACHEBUSTER%%&playerApiId=v118222',triggeredBy:'tcfLoaded',delay:1500,containerId:'ovp-primis',title:"Primis player",beforeLoad:()=>{window.top.addEventListener('primisPlayerInit',e=>{try{if(e.detail&&e.detail.playerApiId==="v118222"){if(window.document.getElementsByClassName('jwplayer')[0]){e.detail.float('disable')}}}catch(e){}})},}) Yet social media platforms are estimated to have made more than £430million from UK users alone last year through hosting such fake adverts. Victims are targeted by algorithms which track online activity. As a result, someone searching for pension advice or looking to invest may be shown relevant adverts – some of which may be fake. Article continues below ADVERTISEMENT Get the day's biggest headlines in UK and World news and more Subscribe Invalid emailWe use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from...