Australia stated on Friday that it is suing Meta, the company of Facebook, for cryptocurrency scam ads that fraudulently purported to be backed by celebrities.
The Australian Competition and Consumer Commission said that it has filed a Federal Court complaint against Meta Platforms for “false, misleading, or deceptive behaviour” in violation of consumer and securities laws.
It accused Meta of not doing enough to block fraudulent advertisements for cryptocurrency or money-making schemes, after being notified by celebrities who had been misled by similar Facebook ads.