The ACCC sues Meta for failing to remove misleading cryptocurrency scam ads that conned numerous people.
The Australian Competition and Consumer Commission instituted Federal Court proceedings against Meta Platforms for featuring misleading and deceptive cryptocurrency advertisements. The watchdog informed that one of the victims lost nearly $500,000 due to the fraud.Meta for promoting fraudulent investment and money-making schemes involving cryptocurrencies on its platform.
“The essence of our case is that Meta is responsible for these ads that it publishes on its platform,” Rod Sims – Chair of the watchdog stated.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australian competition regulator takes Meta to court over fake crypto adsACCC Chair Rod Sims didn’t mince his words as he asserted that Meta stood to gain financially by not removing scam crypto ads, and highlighted the case of one Aussie who lost $650,000.
Read more »
Facebook Owner Meta Sued by Australian Consumer Watchdog for Scam Crypto AdsThe Australian Competition and Consumer Commission says Facebook and Instagram linked fake media articles linking crypto deals to unknowing celebrities.
Read more »
Australia sues Facebook owner Meta over 'deceptive conduct'Australia's consumer protection commission has accused Meta of 'false, misleading or deceptive conduct' in breach of consumer or securities laws.
Read more »
Meta Removes Deepfake Video of Ukrainian President ZelenskyA deepfake video purporting to show Ukraine’s president issuing a statement he didn't make has been removed from Facebook and Instagram, Meta's head of security policy said Wednesday
Read more »
Meta 'identified and removed' deepfake video of Zelenskyy bowing to Russian demandsFacebook's parent company Meta “identified and removed” a deepfake video claiming to show Ukrainian President Zelenskyy accepting some of Russia's demands.
Read more »
Ireland fines Meta for bad record-keepingThe decision was announced by the IDPC on Tuesday
Read more »