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https://www.theguardian.com/technology/article/2024/aug/15/crypto-ad-scams-facebook-meta-accc-court-case>
"More than half of cryptocurrency-related ads on Facebook analysed by
Australia’s consumer regulator were scams or violated Meta’s policies, a court
has heard.
The Australian Competition and Consumer Commission (ACCC) took Meta to court
over celebrity scam ads in 2022, alleging the company had engaged in false,
misleading or deceptive conduct in publishing the ads, and aiding and abetting
the false conduct by the advertisers.
In a ruling issued last week, it was revealed the ACCC has alleged that, since
at least January 2018, “Meta has been aware that a significant proportion of
cryptocurrency advertisements on the Facebook platform have used misleading or
deceptive promotional practices”.
The court heard a preliminary analysis of cryptocurrency ads by the ACCC
revealed that 58% of the ads and landing pages for those ads reviewed violated
Meta’s “advertising policies or, potentially, involved scams”.
Public figures falsely used in the ads to promote the scams include David Koch,
Dick Smith, Mike Baird, Andrew Forrest, Waleed Aly, Celeste Barber, Chris
Hemsworth, Justin Hemmes, Harry Triguboff, Travers Beynon, Karl Stefanovic,
Mark Ferguson, Mel Gibson, Mike Amor, Nicole Kidman, Mike Cannon‑Brookes, Scott
Pape, Eddie McGuire, Daniel Ricciardo, Chris Brown, Liam Hemsworth, Anthony
Pratt, Frank Lowy, Russell Crowe and James Packer."
Cheers,
*** Xanni ***
