Australian Consumer Watchdog Sues Meta for Cryptocurrency Scam Ads

Australian Consumer Watchdog Sues Meta for Cryptocurrency Scam Ads
A pedestrian walks in front of the new 'Meta' logo in front of Facebook headquarters in Menlo Park, Calif., on Oct. 28, 2021. Justin Sullivan/Getty Images
Daniel Y. Teng
Updated:

Australia’s consumer watchdog has filed a lawsuit against Facebook’s parent company Meta over cryptocurrency scam ads, which conned AU$100 million (US$73.83 million) from Australians last year.

The Australian Competition and Consumer Commission (ACCC) has filed the legal action in the Federal Court of Australia, alleging the tech giant knew scam ads were running on Facebook but did little about it.

Daniel Y. Teng
Daniel Y. Teng
Writer
Daniel Y. Teng is based in Brisbane, Australia. He focuses on national affairs, including federal politics and Australia-China relations. Got a tip? Contact him at [email protected].
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