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Australia sues Meta over crypto scam ads on Facebook

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3 years ago

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March 19, 2022

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Australia has sued Facebook owner, Meta over scam adverts for cryptocurrency schemes that falsely claimed to be endorsed by prominent figures

Australia’s consumer protection commission said it had started Federal Court proceedings against Meta Platforms for “false, misleading or deceptive conduct” in breach of consumer or securities laws.

It accused Meta of failing to do enough to stop scam ads for cryptocurrency or money-making schemes, even after being alerted by celebrities who had been misrepresented by similar ads published on Facebook.

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