Facebook Owner Meta Sued for Publishing Scam Crypto Ads by Australian Regulator

The Australian Competition and Consumer Commission has filed a suit against Meta, formerly Facebook, for “publishing scam advertisements featuring salient Australian nationalist figures.” The regulator said, “The essence of our lawsuit is that Meta is liable for these ads that it publishes connected its platform.”

Meta Sued for Publishing Cryptocurrency Scam Ads

The Australian Competition & Consumer Commission (ACCC) announced Friday that it has taken ineligible enactment against Meta Platforms Inc. (formerly Facebook) and Meta Platforms Ireland Ltd.

Australia’s contention regulator alleges that the companies “engaged successful false, misleading oregon deceptive behaviour by publishing scam advertisements featuring salient Australian nationalist figures” connected Facebook.

The ACCC alleges Meta’s behaviour “was successful breach of the Australian Consumer Law (ACL) oregon the Australian Securities and Investments Commission Act (ASIC Act).” In addition, the regulator noted:

It is besides alleged that Meta aided and abetted oregon was knowingly acrophobic successful mendacious oregon misleading behaviour and representations by the advertisers.

The ACCC explained that the ads “promoted concern successful cryptocurrency oregon money-making schemes.” They featured well-known people, specified arsenic “businessman Dick Smith, TV presenter David Koch and erstwhile NSW Premier Mike Baird,” the ACCC noted, adding that Facebook users were led to judge these scams were genuinely associated with these celebrities.

ACCC Chair Rod Sims said:

The essence of our lawsuit is that Meta is liable for these ads that it publishes connected its platform.

The contention regulator said Meta was alert of the cryptocurrency scam ads connected Facebook but did not instrumentality capable steps to code the contented adjacent aft the institution received complaints from the celebrities whose names and images were utilized without consent.

The ACCC is seeking “declarations, injunctions, penalties, costs and different orders,” the regulator detailed.

Do you deliberation Meta should beryllium held accountable for allowing crypto scam ads connected Facebook? Let america cognize successful the comments conception below.

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