Australia has filed a lawsuit against Meta, the parent company of Facebook, alleging that it allowed fraudulent ads to target users with phony celebrity endorsements.<\/p>\n\n\n\n
According to a regulator, the internet giant participated in “false, misleading, or deceptive conduct” by knowingly displaying adverts for fraudulent cryptocurrency.<\/p>\n\n\n\n
Financial and other penalties could be imposed on the US corporation.<\/p>\n\n\n\n
Meta has yet to respond but has previously stated that it is dedicated to preventing scammers from using its services.<\/p>\n\n\n\n
The ads in question, according to the Australian Competition and Consumer Commission (ACCC), exploited Facebook’s algorithms to target vulnerable consumers and featured phony comments from Australian celebrities.<\/p>\n\n\n\n
Former New South Wales Premier Mike Baird, popular TV broadcaster David Koch, and rich entrepreneur Dick Smith were among the names used without permission.<\/p>\n\n\n\n
The ACCC chairman Rod Sims said in a statement on Friday that “the essence of our argument is that Meta is liable for these adverts that it posts on its platform.”<\/p>\n\n\n\n
Meta allegedly did this intentionally and failed to prevent the scams despite celebrity concerns, according to the court action filed in Australia’s Federal Court.<\/p>\n\n\n\n
“We know of one consumer who lost almost A$650,000 (\u00a3360,000; $480,000) as a result of one of these frauds being falsely presented as an investment opportunity on Facebook. This is a disgraceful situation “Mr. Sims explained.<\/p>\n\n\n\n
Last month, Australian billionaire Andrew Forrest filed a criminal complaint against Meta for using his image in fake ads.<\/p>\n\n\n\n
While Dr. Forrest accuses Google of violating anti-money laundering regulations, the ACCC’s complaint involves suspected violations of consumer law or another regulatory act.<\/p>\n\n\n\n
In 2021, Meta, which also owns Instagram and Whatsapp, generated $115 billion in global advertising income.<\/p>\n<\/span>","protected":false},"excerpt":{"rendered":" Australia has filed a lawsuit against Meta, the parent company of Facebook, alleging that…<\/p>\n","protected":false},"author":20,"featured_media":3446,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[78],"tags":[146,148,144,149,147,145],"_links":{"self":[{"href":"https:\/\/noshadali.com\/wp-json\/wp\/v2\/posts\/3445"}],"collection":[{"href":"https:\/\/noshadali.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noshadali.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noshadali.com\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/noshadali.com\/wp-json\/wp\/v2\/comments?post=3445"}],"version-history":[{"count":2,"href":"https:\/\/noshadali.com\/wp-json\/wp\/v2\/posts\/3445\/revisions"}],"predecessor-version":[{"id":3566,"href":"https:\/\/noshadali.com\/wp-json\/wp\/v2\/posts\/3445\/revisions\/3566"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noshadali.com\/wp-json\/wp\/v2\/media\/3446"}],"wp:attachment":[{"href":"https:\/\/noshadali.com\/wp-json\/wp\/v2\/media?parent=3445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noshadali.com\/wp-json\/wp\/v2\/categories?post=3445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noshadali.com\/wp-json\/wp\/v2\/tags?post=3445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}