The Australian Antitrust takes Meta to court: fake announcements on cryptocurrencies

The Australian Antitrust takes Meta to court: fake announcements on cryptocurrencies

Facebook’s parent company would not have done everything possible to remove fraudulent advertisements in which public figures, without having given consent, promoted investments in digital currencies. The defense: “The automatic protection mechanisms were not enough”
18 Mar 2022
Veronica Balocco

The Australian Competition & Consumer Commission (Accc), Australian Guarantor for Competition and Consumers, sued Meta, the parent company of Facebook, for “not acting sufficiently on the removal from the platform of scam ads in which public and famous personalities promoted investments in cryptocurrencies “. Specifically, the ACCC said the advertisements exploited images of various Australian business leaders, television hosts and politicians and contained links to fake media articles that included quotes attributed to personalities. The celebrities then filed various complaints for using their profile without consent. Due to the scam, some users have lost up to half a million dollars.
Index of topics
• The Accc: “Meta responsible for these announcements”
• Meta: “All defense tools used”
• The cause of tycoon Forrest
The Accc: “Meta responsible for these announcements”
According to the lawsuit filed by the Accc in the Federal Court, Facebook allegedly “helped and favored” or was “knowingly involved in behavior and false or misleading statements by advertisers”. “The essence of our case – said the president of the Accc Rod Sims – is that Meta is responsible for these announcements that it publishes on its platform. It is therefore assumed that Meta was aware of the scam ads that were displayed on the platform, but did not take sufficient measures to solve the problem “.

cryptocurrencies