Meta Is Being Dealt Strictly By The Australian Watchdog For Allowing Fraud Ads On Facebook

Australia's competition regulator and national consumer law champion (ACCC) called out and reported to file a lawsuit against Facebook Inc. for being a failure at controlling the scammers and their ads from promoting and defrauding people by using the image of well-reputed people over meta platforms.

In the various advertisement, for example, ads, where people were encouraged to spend in cryptocurrency or any scheme out of which they were promised to be making money, in all these ads well known Australian figures, were featured which needless to say was enough to scam hundreds of people unaware of the scam hidden behind these ads.

According to the Federal government, Facebook is not only responsible for not limiting the digital post of these scamming advertisements but is also suspected of aiding the scammers creating and publishing such ads on this huge platform.

According to ACCC, it is not some hollow allegation from their side on Facebook Inc. that they promoted scam but they believe that there is no way in this universe that meta had no idea about the defrauds being displayed on the Facebook so that might be the reason they lacked on taking the right actions on this issue.

But Meta has to say that it is against their policy for those scammers to post fraud ads and scam people out of money and if anyone has done so then the company has a policy as well as technology strong enough to discover those advertisements and take sufficient actions against those scammers. In addition, meta has responded to the lawsuit filed by ACCC via Email ensuring that they will review the allegations with the pure intention to settle the dispute.

In the allegations, ACCC presented before the court the images of several well-reputed Australian CEOs, political leaders, and newscasters along with fake links generated by the scammers which contained the quotes by these people all posted in the fake articles over meta.

All the subscribers of these media articles were reached out by the scammers and persuaded by them to spend money on this fake conspiracy. ACCC chairman Rod Sims told the court about a person who fell victim to this scam losing 480,000 dollars and this is a beyond shameful deed done by the scammers.

Chairman of Forrestescue metal group, Andrew Forrest also filed a lawsuit against Facebook Inc. due to discovering the usage of one of his pictures with the fake quotes by him written in the fake ad article to foster the cryptocurrency investment plan.

The Federal Reserve Board, Australian Securities, and Investments Commission (ASIC), on a usual basis, deal with the financial scam issues against fake organizations. The ACCC is aiming to seek financial retribution from all these companies found to be scamming the people out of their money.

As a result, Facebook has decided to launch a program to educate the Australian political leaders and influential personalities on cyber protection to control the expansion of misleading information that could potentially spread during the time of federal elections in the near future.

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