Australian Regulator Sues Facebook Over Alleged “False, Misleading or Deceptive Conduct” in Advertising

An Australian regulator has commenced legal action against Facebook’s parent company Meta, alleging that the tech company engaged in “false, misleading or deceptive conduct” by knowingly hosting advertising for bogus cryptocurrencies.

Meta faces financial and other penalties.

The Australian Competition and Consumer Commission’s (ACCC) suit,  filed in the Federal Court of Australia, alleges and claims that Facebook’s algorithms knowingly target susceptible users and featured fake quotes attributed to Australian celebrities.

“The essence of our case is that Meta is responsible for these ads that it  publishes on its platform,” ACCC chairman Rod Sims said in a statement. 

Meta has not publicly commented on the new regulatory action. 

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