Australian watchdog sues Facebook-owner Meta over scam advertisements

Woman holds smartphone with Meta logo in front of a displayed Facebook's new rebrand logo Meta in this illustration picture taken October 28, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters) -Australia's competition watchdog filed a lawsuit against Facebook owner Meta Platforms on Friday, alleging the social media giant failed to prevent scammers using its platform to promote fake ads featuring well-known people.

The advertisements, which endorsed investment in cryptocurrency or money-making schemes, could have misled Facebook users into believing they were promoted by famous Australians, the Australian Competition & Consumer Commission (ACCC) said.