Australia’s competition watchdog filed a lawsuit against Facebook owner Meta Platforms on Friday, alleging the social media giant failed to prevent scammers using its platform to promote fake ads featuring well-known people.
The advertisements, which endorsed investment in cryptocurrency or money-making schemes, could have misled Facebook users into believing they were promoted by famous Australians, the Australian Competition & Consumer Commission said.
Meta said any ads that scammed people out of money or misled users violated its policies and the company uses technology to detect and block such posts, adding it had “cooperated with the ACCC’s investigation into this matter to date.” Users who signed up were contacted by scammers to convince them to deposit funds into the fake schemes, the regulator said.
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