## **Attorney General Drummond Calls on Meta to Combat Scam Investment Ads**
### **The Rising Tide of Fraudulent Ads**
**OKLAHOMA CITY (June 20, 2025)** – In a bold move, Attorney General **Gentner Drummond** is urging Meta Platforms Inc. to take immediate action against a troubling surge of **pump-and-dump investment ads** proliferating on Facebook. Drummond, backed by a coalition of **41 state and territory attorneys general**, has raised alarms about these deceptive advertisements that impersonate renowned investors, luring unsuspecting consumers into financial traps.
### **A Message to Meta: Protect Your Users**
Drummond’s recent correspondence with Meta outlines significant concerns regarding the **growing menace of fraudulent investment schemes**. These ads often showcase images of high-profile figures like **Warren Buffet**, **Cathie Wood**, and **Elon Musk** to instill a false sense of credibility. Unfortunately, this has led to **thousands** of victims losing **hundreds of millions of dollars.**
> “Meta’s processes for detecting and blocking these scams are clearly failing,” Drummond stated emphatically. “The company owes its users protection from devastating financial losses. **Meta can and must do more.**”
### **How the Scams Operate**
The fraudulent Facebook ads often tout unrealistically high returns, enticing users with promises of lucrative investments. Clicking on these ads typically leads users to join **WhatsApp groups** where they are further encouraged to purchase certain stocks. As these stocks are acquired, their prices surge due to artificial inflation, allowing the fraudsters to quickly exit their positions, selling off their shares at inflated prices before the market inevitably crashes.
#### **Understanding the Legal Implications**
It’s crucial to note that **pump-and-dump schemes** are not just unethical; they are illegal and amount to **securities fraud**. Drummond emphasizes that this deceptive practice should be a primary target for Meta if it is to maintain any integrity as a platform.
### **Meta’s Current Measures Insufficient**
Despite employing **automated systems** and limited human oversight to weed out fraudulent content, scammers have consistently outsmarted these checks by frequently modifying their ads. The coalition of attorneys general has called for **more stringent preventative measures**, including:
– **Enhanced advertiser verification**
– **Thorough human review** of investment-related advertisements
> “If Meta is unable to implement a more effective process, then it should just stop running investment advertisements as a category,” the letter starkly states.
### **Conclusion: The Path Forward for Meta**
As the digital landscape evolves, so too must the systems designed to protect users. Attorney General **Gentner Drummond** stands resolute, advocating for **tighter regulations** to safeguard consumers from the perils of deceptive advertising. Will Meta heed this call to action? The clock is ticking, and the safety of countless users hangs in the balance.
For further reading on investment scams and consumer protection, check out resources from the **[U.S. Securities and Exchange Commission](https://www.sec.gov)** for the latest guidelines.
Engage in this ongoing conversation and stay informed about the measures that can help combat fraudulent ads on platforms you trust.
