The Wall Street Journal and ad-tech company Vindico have found that USFunVideos.com took money from big video-ad spenders such as Coca-Cola, JP Morgan and HTC by charging them for serving ads that were no larger than one pixel. Ad fraud can be difficult to detect, particularly when ad orders pass through several middlemen before appearing on websites, write Mike Shields and Christopher Stewart. One-fourth of online ad revenue is thought to be lost to fraud, according to one estimate.

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