May 12, 2022

Justice: Facebook on the dock (baton for libra!)

Scams, crimes and bot-panic! The scammers on the internet do not lack imagination or pigeons and social networks are an ideal playground for them. In the land of surfers and koalas, consumers have decided not to let it go and the procedures have been multiplying for years. Lately it’s Facebookfrom now on Meta – who bears the cost of this judicial crusade. Bring in the accused!

Bitcoin scams with stars as stooges

It all started in 2019 with the case of the ” Bitcoin Profit “which is symptomatic of the phenomenon” fame scam“. First, advertisements around fake news articles sent users to economicsworld[point]information. Then, on the platform, we promised up to 4000% profitability for an investment in bitcoin. Finally and to back it all up, we could see celebrity faces and testimonials like Elon Musk, Richard Branson (founder of Virgin), Bill Gates or Kate Winslet. Of course, this was all wrong and the unfortunate investors never saw their precious bitcoins again. Since fraudulent sites operating on the same principle have multiplied: “Bitcoin Revolution”, “Bitcoin Evolution” or “Bitcoin Trader”.

L’Australian Securities and Investments Commission (ASIC) continues to issue warnings to investors for years. A spokesperson for the “watchdog” – unofficial nickname of the institution – details the modus operandi new scammers:

“These websites advertise using the image of celebrities and post these ads on social networks like Facebook, Instagram, LinkedIn and Twitter. When an investor clicks on an article or an advertisement, he is sent to a “mirror site”, that is to say a fake version of an official site such as the information site ABC News. »

Personally affected, an Australian celebrity decided to bang his fist on the table and bring the case to courts. Andrew « Twiggy » Forrest, Australian metals tycoon and CEO of Fortescue Metals Group, decided to sue Meta for fraudulent use of his name and image. The beginning of legal troubles for the California firm.

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Facebook in the dock for allegedly “letting go” of cryptocurrency scammers

The Australian millionaire accuses Meta of violate Australian laws by circulating fraudulent advertisements. This would be a breach of section 10 of the Commonwealth Criminal Code on money laundering. The Western Australia Magistrate’s Court foresees a first hearing next March 28. It will be followed by a hearing of the accused in 2022.

But the problems don’t stop there for Meta! Forrest’s lawyers also filed a complaint civil before California Superior Court. The case is under investigation and no hearing date has been announced. The Facebook Users Association in Australia supports Forrest’s move and explains why:

“Andrew Forrest is an icon to millions of Australians and many hold him in high esteem. Everything about him could seem legitimate to the general public, especially if it is officially broadcast on Facebook.

It is for the same reasons as Waleed Aly, famous writer, lawyer and academic from Melbourne has also joined the accuser’s bench. He joins a collective action led by ASIC which also concerns movie stars Hugh Jackman and Nicole Kindman.

Meta is accused of not doing enough to “detect, prevent and remove” fake ads on its network. Will justice sanction the multinational? This would undoubtedly create a precedent and would clean up the crypto ecosystem plagued by scams.

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