Australia plans to sue Facebook owner over scam adverts for cryptocurrency

Mere are suing Facebook’s proprietor, Meta Platforms, over scam advertisements for cryptocurrency schemes. The ads feature well-known Australians, including a politician and a businessman, who they declare endorse the schemes. In reality, the figures never endorsed the schemes, or permitted the advertisements. Australia’s shopper safety commission stated the adverts also contained links to fake articles with quotes claiming to be by the common public figures.
One shopper allegedly lost over US$480,000 from a false advert for an funding alternative. The commission’s chair said the scam adverts not solely steal consumers’ cash, but damage the public figures’ reputations.
The commission introduced right now it has started Federal Court proceedings against Meta for “false, misleading, or deceptive content”. The chair said Meta has not accomplished sufficient to counter the rip-off adverts.
“…even after those public figures reported to Meta that their identify and picture had been being featured in celebrity endorsement cryptocurrency scam ads”.
Meta hit again, arguing that any ads that scammed people out of cash or misled customers violated its insurance policies, and the company uses technology to detect and block such posts. A Meta spokesperson said Meta will review the commission’s accusations.
Last month, the chairman of an Australian metals group also launched legal proceedings against Facebook, including ones using his image to advertise cryptocurrency schemes. This week, Facebook announced a program to assist practice Australian political candidates and influencers on cyber security..

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