Meta by the Australian regulatory authority suing for supposedly misleading crypto advertising

The Australian competition authority sued Meta in court because it allegedly permitted misleading cryptocurrency advertising on Facebook, in a test case for the responsibility of the mother group for actions that harm consumers on the social media platform.

The Australian competitive and consumer commission claimed that Meta had violated consumer and investment laws and the US company "supported and favored and favored or had a" false or misleading behaviors and representations ".

The legal steps of the regulatory authority follow a separate case that was initiated by Andrew Forrest, the Australian mining tycoon, the meta this year, after his image was used without his consent to promote cryptocurrency programs.

ROD Sims, Chairman of the ACCC, identified the next goal of the "Dark Pattern" organization in online retail and subscription market that causes damage.

The alleged frauds began in 2019 and used images of well -known Australians on Facebook to link to false media articles in which consumers were asked to register for cryptocurrency systems. The Facebook users were then exposed to high-pressure sales techniques.

According to Sims, the target persons suffered “countless losses” that said that one person was supposedly temporarily temporarily temporarily issued 650,000 AUD ($ 477,000).

The ACCC said that by linking Facebook, Meta generated "significant income" with the wrong media reports and its technology enabled it to "speak unscrupulous fraudsters" to address consumers that would most likely interact with the ads.

It also said that the advertising campaigns continued to appear, even after some of the celebrities had publicly complained about the use of their similarities. "The essentials in our case is that Meta is responsible for these ads that it publishes on its platform," said Sims.

Meta said that it has worked with the ACCC so far and that the submission will check the Federal Supreme Court.

"We do not want to target people to cheat on people or to mislead people on Facebook - they violate our guidelines and are not good for our community. We use technology to recognize and block fraudulent advertising, and work on dealing with fraudsters to avoid our identification systems," said the company.

About 5 percent of Facebook's monthly active users were fake accounts in the fourth quarter of 2021, and according to the company, 1.7 billion of such accounts were closed during this period.

The case of the ACCC is his latest attempt to take digital platforms after a news negotiation system was introduced last year that effectively forced META and Google to pay media companies for their journalism.

The lawsuit was announced on the last day of the 11-year term of Sims at the head of the regulatory authority. It is attributed to it that he has transformed the ACCC into a watchdog with global influence by introducing the negotiation code for news and the publication of research results on digital platforms used by other national regulatory authorities.

Sims is replaced by Gina Cass-Gottlieb, a lawyer for competition law.