Facebook Owner Meta Sued for Publishing Scam Crypto Ads by Australian Regulator – Regulation Bitcoin News - BitcoinEthereumNews.com
The Australian Competition and Consumer Commission has filed a lawsuit against Meta, formerly Facebook, for “publishing scam advertisements featuring prominent Australian public figures.” The regulator said, “The essence of our case is that Meta is responsible for these ads that it publishes on its platform.”n Meta Sued for Publishing Cryptocurrency Scam Ads The Australian Competition & Consumer Commission (ACCC) anounced Friday that it has taken legal action against Meta Platforms Inc. (formerly Facebook) and Meta Platforms Ireland Ltd. Australias competition regulator alleges that the companies “engaged in false, misleading or deceptive conduct by publishing scam advertisements featuring prominent Australian public figures” on Facebook. The ACCC alleges Metas conduct “was in breach of the Australian Consumer Law (ACL) or the Australian Securities and Investments Commission Act (ASIC Act).” In addition, the regulator noted: It is also alleged that Meta aided and abetted or was knowingly concerned in false or misleading conduct and representations by the advertisers. The ACCC explained that the ads “promoted investment in cryptocurrency or money-making schemes.” They featured well-known people, such as “businessman Dick Smith, TV presenter David Koch and former NSW Premier Mike Baird,” the ACCC noted, adding that Facebook users were led to believe these scams were genuinely associated with these celebrities. ACCC