facebook is being sued by an Australian regulator for publishing fraudulent cryptocurrency advertisements.

Facebook Owner Meta Sued for Publishing Scam Crypto Ads by Australian Regulator

Meta, formerly Facebook, has been sued by the Australian Competition and Consumer Commission for “posting fraud adverts featuring renowned Australian public figures.” “The essence of our argument is that Meta is liable for these adverts that it posts on its platform,” the regulator stated.

Meta is being sued for promoting cryptocurrency scams.

The Australian Competition and Consumer Commission (ACCC) announced on Friday that Meta Platforms Inc. (previously Facebook) and Meta Platforms Ireland Ltd have been sued.

The companies “engaged in false, misleading or deceptive behaviour by distributing scam adverts featuring famous Australian public figures” on Facebook, according to Australia’s competition authority.

Meta’s behaviour, according to the ACCC, “violated the Australian Consumer Law (ACL) or the Australian Securities and Investments Commission Act.”

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