{"id":2741,"date":"2022-03-20T12:51:02","date_gmt":"2022-03-20T12:51:02","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=2741"},"modified":"2022-03-20T12:51:04","modified_gmt":"2022-03-20T12:51:04","slug":"facebook-owner-meta-sued-for-publishing-scam-crypto-ads-by-australian-regulator","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=2741","title":{"rendered":"Facebook Owner Meta Sued for Publishing Scam Crypto Ads by Australian Regulator"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>The Australian Competition and Consumer Commission has filed a lawsuit against Meta, formerly Facebook, for \u201cpublishing scam advertisements featuring prominent Australian public figures.\u201d The regulator said, \u201cThe essence of our case is that Meta is responsible for these ads that it publishes on its platform.\u201d<br \/><\/strong><\/p>\n<h2>Meta Sued for Publishing Cryptocurrency Scam Ads<\/h2>\n<p>The Australian Competition &amp; Consumer Commission (ACCC) announced Friday that it has taken legal action against Meta Platforms Inc. (formerly Facebook) and Meta Platforms Ireland Ltd.<\/p>\n<p>Australia\u2019s competition regulator alleges that the companies \u201cengaged in false, misleading or deceptive conduct by publishing scam advertisements featuring prominent Australian public figures\u201d on Facebook.<\/p>\n<p>The ACCC alleges Meta\u2019s conduct \u201cwas in breach of the Australian Consumer Law (ACL) or the Australian Securities and Investments Commission Act (ASIC Act).\u201d In addition, the regulator noted:<\/p>\n<p>It is also alleged that Meta aided and abetted or was knowingly concerned in false or misleading conduct and representations by the advertisers.<\/p>\n<p>The ACCC explained that the ads \u201cpromoted investment in cryptocurrency or money-making schemes.\u201d They featured well-known people, such as \u201cbusinessman Dick Smith, TV presenter David Koch and former NSW Premier Mike Baird,\u201d the ACCC noted, adding that Facebook users were led to believe these scams were genuinely associated with these celebrities.<\/p>\n<p>ACCC Chair Rod Sims said:<\/p>\n<p>The essence of our case is that Meta is responsible for these ads that it publishes on its platform.<\/p>\n<p>The competition regulator said Meta was aware of the cryptocurrency scam ads on Facebook but did not take sufficient steps to address the issue even after the company received complaints from the celebrities whose names and images were used without consent.<\/p>\n<p>The ACCC is seeking \u201cdeclarations, injunctions, penalties, costs and other orders,\u201d the regulator detailed.<\/p>\n<p>Tags in this story<\/p>\n<p>accc, Australian Authority, Australian commission, Australian regulator, celebrity scam ads, crypto scam ads, Facebook, Facebook lawsuit, Facebook sued, Lawsuit, scam ads, Scams<\/p>\n<p><em><strong>Do you think Meta should be held accountable for allowing crypto scam ads on Facebook? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Kevin Helms <\/p>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons, CNBC TV18<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p class=\"icymi_title\">Kazakhstan Shuts Down Over 100 Crypto Mining Farms<\/p>\n<p class=\"icymi_excerpt\">More than 100 crypto farms in Kazakhstan have terminated operations as a result of ongoing inspections of the mining sector. Authorities have revealed that some of the facilities are linked to prominent businessmen and former government officials. Financial Watchdog Goes &#8230; read more.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/facebook-owner-meta-sued-for-publishing-scam-crypto-ads-by-australian-regulator\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Australian Competition and Consumer Commission has filed a lawsuit against Meta, formerly Facebook, for \u201cpublishing scam advertisements featuring prominent Australian public figures.\u201d The regulator said, \u201cThe essence of our case is that Meta is responsible for these ads that it publishes on its platform.\u201d Meta Sued for Publishing Cryptocurrency Scam Ads The Australian Competition [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2742,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-2741","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/2741","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2741"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/2741\/revisions"}],"predecessor-version":[{"id":2743,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/2741\/revisions\/2743"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/2742"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}