If its a post it can be taken down or they will take action on it, but if its a paid ad they are not going to do that to refund the advertisers they will just recommend you block or hide the ads, and they will not do a refund they will deliver as many views and click on the ads based on the package, because Facebook is profit driven their users are their product and the advertisers is their cash cow, so they will always favor their advertisers.
I don't think this is correct. Even paid ads can be removed if it violates any of the policies of the platform. Also, after removing it, the publisher is unlikely to get his money back. I doubt they will refund him.
The problem with Google, fb.. is that they don't handle reports quickly and there must be many reports before they take it seriously and take an action.