Australia’s regulator initiated legal proceedings against Facebook owner Meta for allowing crypto-scam ads.
Meta owner of the giant platform Facebook is facing legal trouble in Australia due to its fraudulent advertisements related to digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currencies.
The Australian Competition and Consumer Commission (ACCC) on Friday introduced a complaint against Meta for allowing fraudulent ads to run on its social media platforms. In a communiqué the regulator accuses company of engaging in false and misleading conduct by running fraudulent ads with prominent Australian celebrities.
As reported by CoinDesk The CCA alleges that the advertisements, which promoted investment in the tokens or money-making schemes, they are likely to deceive the users of the Facebook making them believe that the advertised promotions are associated with prominent figures. However, these promotions are scams that the celebrities have never approved or endorsed.
Specifically, he alleges that the conduct of Meta violates the Australian Consumer Law (ACL) or the Australian Securities and Investments Commission Act (ASIC Act). The statement names businessman Dick Smith, television presenter David Koch, and former New South Wales Premier Mike Baird as some of the well-known people who have appeared in the ads.
Como tal, los anuncios en cuestión contenían enlaces que llevaban a los usuarios de Facebook to a fake media article that included quotes attributed to the public figures, endorsing a cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. or money-making scheme. The articles invited users to sign up, and the scammers subsequently contacted users to harass them with phone calls and convince them to deposit funds into the fraudulent schemes.
Australian regulator goes against Meta
The lawsuit, which includes the division of Meta in Ireland, also claims that the company has not taken sufficient measures to curb these practices, “and that the company has not taken sufficient measures to stop them. even after celebrities reported false, misleading, or deceptive advertisements similar to Meta “. The regulator extended its reasoning to point out that Meta “ aided and abetted or knowingly engaged in false or misleading conduct and representations by advertisers “.
ACCC President Rod Sims, assured that the company is responsible and cited the algorithm a process or set of rules to be followed in problem-solving or calculation operations, usually by a computer. of Meta como una herramienta que se aprovecha para atraer a los usuarios más vulnerables a este tipo de anuncios falsos.
The essence of our case is that Meta is responsible for these ads that it publishes on its platform. It’s a key part of Meta’s business to allow advertisers to target users who are most likely to click on an ad’s link to visit the ad’s landing page, using Facebook’s algorithms. Those visits to ad landing pages generate substantial revenue for Facebook.
“ The essence of our case is that Meta is responsible for these advertisements that it publishes on its platform a place to buy, sell and store cryptocurrency “added Sims, who assured that there have been “ incalculable losses for consumers “.
The ACCC is seeking declarations, injunctions, sanctions and other unspecified orders against Meta .
Meta faced similar demand in 2018
As reported by Tech Crunch the social media giant responded to the accusations. Meta refuted the allegations and said it already uses technology to try to detect and block scams. In a statement quoted by the media, he said:
“ We don’t want ads that seek to scam a scheme that is designed to dupe people out of cash or crypto. people out of money or mislead people on Facebook – they violate our policies and are not good for our community. We use technology to detect and block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. fraudulent adverts and work to pre-empt attempts by fraudsters to evade our detection systems. We have cooperated with the ACCC’s investigation into this matter to date. We will review the ACCC’s recent submission and intend to defend the proceedings. We cannot comment further on the details of the case as it is before the Federal Court. “.
This is not the first time the company has faced legal proceedings. due to ads promoting crypto scams. As he recalled Tech Crunc h, en 2018 se presentó una queja similar contra la compañía, when UK consumer advice personality Martin Lewis sued the platform for defamation over a series of fraudulent ads featuring his image and name without his permission that he said were being used to deceive and defraud UK consumers.
The litigation ended the following year with the commitment of Facebook to institute some changes, including the addition of a button to report fraudulent ads. However, fraudulent campaigns that use Lewis’s image and are promoted via Facebook, continue to appear on the platform.
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Article by Hannah Estefania Perez / DiarioBitcoin
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