The ACCC is suing Meta for hosting crypto scam ads on its platform

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  • The ACCC has launched a Federal Court case against Facebook owner Meta Platforms.
  • The proceedings allege the global tech giant engaged in false, misleading or deceptive conduct.
  • The consumer watchdog says the company knowingly published scam advertisements featuring prominent Australian public figures.
  • Visit Business Insider Australia’s homepage for more stories.

The Australian Competition & Consumer Commission (ACCC) has launched a Federal Court case against Facebook owner Meta Platforms, Inc. and Meta Platforms Ireland Limited (together: Meta) in response to a scam advertising campaign on the platform featuring prominent Australian public figures including Andrew “Twiggy” Forrest and businessman Dick Smith. 

The proceedings allege the global tech giant engaged in false, misleading or deceptive conduct by publishing scam advertisements featuring prominent Australian public figures.

Well-known people featured in the ads included Forrest, Smith, TV presenter David Koch and former NSW Premier Mike Baird. 

The ACCC said the ads, which promoted investment in cryptocurrency or money-making schemes, were likely to mislead Facebook users into believing the advertised schemes were associated with the people featured.

However the schemes were scams, and the people featured never approved or endorsed them. 

Rod Sims, chair of the ACCC, said at its core the case alleges that Meta is responsible for the ads it…

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