ACCC Chair Rod Sims didn’t mince his words as he asserted that Meta stood to gain financially by not removing scam crypto ads, and highlighted the case of one Aussie who lost $650,000.
In an announcementearlier today, the ACCC asserted that Meta “aided and abetted or was knowingly concerned in false or misleading conduct and representations by the advertisers.”
The regulator stated that the ads contained dubious links which directed users off Facebook to a fake media article that featured quotes attributed to the public figure supposedly endorsing a “cryptocurrency or money-making scheme.” ACCC Chair Rod Sims didn’t mince his words as he asserted that, “Meta is responsible for these ads that it publishes on its platform” and that company the stood to gain financially by failing to remove them:
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