Australian regulator sues Meta

The Australian Competition and Consumer Protection Commission (ACCC) has filed a case against Meta Platforms (formerly Facebook) in federal court.

Meta "enacted false, misleading or deceptive conduct by posting fraud allegations involving prominent Australian figures," it said in a statement .

Specifically, advertisements are said to have been placed on Facebook that advertised crypto projects with well-known personalities.

In fact, "the programs were scams and the people named in the ads had never endorsed or endorsed them."

Links ultimately lured users to fraudulent platforms.

Meta is said to have known about this, but not taken adequate countermeasures.

In doing so, Meta “violated the Australian Consumer Act or the Australian Securities and Investments Commission Act”.

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