South Korea regulator may sanction Meta over marketplace, say media reports

FILE PHOTO: People walk behind Meta Platforms logo during a conference in Mumbai, India, September 20, 2023. REUTERS/Francis Mascarenhas/File Photo

SEOUL (Reuters) - South Korea's antitrust agency will consider imposing sanctions on Meta Platforms for allegedly failing to protect some users of online marketplaces operated by Facebook and Instagram against fraudulent transactions, news reports said on Friday.

The Korea Fair Trade Commission (FTC) had investigated possible violations of the country's e-commerce law and had sent an examination report to Meta late last year, Yonhap news and the Dong-a Ilbo newspaper reported, citing unnamed sources.