Facebook parent Meta Platforms sued by Australian regulator over scam ads
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Facebook parent Meta Platforms (NASDAQ:FB) has been sued by an Australian regulator saying the company hasn't done enough to pull scam advertisements linking public figures to cryptocurrency.
Australia's Competition and Consumer Commission says the ads continue to run even after the public figures complained of the use of their name and image in the ads; Meta says it uses technology to detect and block the fake ads.

The regulator counters that Meta technology is actually allowing better targeting of the scam ads to those users most likely to engage with them, and generate substantial revenue for Facebook.
The ads in question involved well-known Australians including businessman Dick Smith, television presenter David Koch and politician Mike Baird.
âMeta should have been doing more to detect and then remove false or misleading ads on Facebook, to prevent consumers from falling victim to ruthless scammers,â commission Chair Rod Sims said. âThe essence of our case is that Meta is responsible for these ads that it publishes on its platform.â