Celebrity Crypto Scam Ads On Facebook – The ACCC Is Suing Meta Here’s Why The Tech Giant Could Be Found Liable
On the last day of his 11 years as chair of the Australian Competition and Consumer Commission (ACCC), Rod Sims announced the commission is bringing a “world-first” claim against Meta (owner of Facebook) in the Federal Court for false or misleading conduct.
The ACCC alleges Meta failed to take sufficient steps to stop displaying scam cryptocurrency ads on Facebook in 2019, even after receiving complaints. Sims said the ads led to more than A$650,000 in losses for one consumer.
“Those visits to landing pages from ads generate substantial revenue for Facebook,” Sims said.
Almost a decade ago, the ACCC failed in an arguably similar misleading conduct claim against Google. This time, however, the commission has some new arguments that focus on Facebook’s business of targeting ads at particu...