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The Australian Competition and Consumer Commission sues Meta claiming Facebook “aided and abetted” scam cryptocurrency ads with photos of famous Australians

Australian competition watchdog has begun proceedings against Facebook owner Meta Platforms Inc (FB.O) …

Reuters Sameer Manekar

Discussion

  • @business @business on x
    Facebook owner Meta is being sued by Australia's competition watchdog, which alleges the social-media giant misled users by publishing scam advertisements featuring unwitting local celebrities https://www.bloomberg.com/...
  • @joshgnosis Josh Taylor on x
    I think this makes three court cases Meta is fighting at the moment over scam ads https://www.theguardian.com/ ...
  • @fborgesius Frederik Zuiderveen Borgesius on x
    'Australia's consumer watchdog is taking Meta to court, alleging the company “aided and abetted” celebrity scam ads on Facebook that have cost some Australians hundreds of thousands of dollars.' https://www.theguardian.com/ ...
  • @10newsfirst @10newsfirst on x
    Consumer watchdog ACCC is suing Meta, Facebook's parent company, after it allegedly didn't do enough to pull fake crypto ads from the platform. It claims Meta was responsible for hosting the “misleading” ads for fake investments, which caused one scam victim to lose $650,000. htt…
  • @michaelobrienmp Michael O'Brien on x
    Good. It's well past time that online platforms had some accountability for scams they are being paid for promoting and for which they have been put on notice. https://twitter.com/...
  • @jendudley Jen Dudley-Nicholson on x
    These scams are still so prolific online and keep stealing money. A huge list of names have been exploited and every time I ask about one, I'm told I have to provide the exact Facebook link for anything to be done. It's maddening. https://twitter.com/...
  • @acccgovau @acccgovau on x
    We've instituted Federal Court proceedings against Facebook owner Meta, alleging that they engaged in false, misleading or deceptive conduct by publishing scam advertisements featuring prominent Australian public figures. https://www.accc.gov.au/... https://twitter.com/...
  • @10newsfirst @10newsfirst on x
    If the ACCC's legal bid is successful, Meta could face a multi-million dollar fine for breaching Australian Consumer Law. Andrew Forrest last month launched separate legal action over the scams, while Meta is facing more headaches related to the Cambridge Analytica scandal.
  • @alankirkland Alan Kirkland on x
    Top work by the ACCC. It is appalling that Meta has facilitated these misleading ads for so long. It needs to be held to account https://twitter.com/...
  • @gerardbrody Gerard Brody on x
    Great to see this action from @acccgovau - scams are ruining people's lives and online platforms should not act as a gateway for scammers. https://twitter.com/...
  • @texanmeg Meg Coffey on x
    @jendudley It's a step in the right direction but still so so many things Meta needs to fix to be taken seriously. Maddening is the perfect word for how their systems work.
  • @charlietech Charlie on x
    About time!! You would think they dont want this stuff on their ad platform as it devalues the value of REAL advertisements @JimWilsonMedia https://twitter.com/...