Australian billionaire Andrew “Twiggy” Forrest is taking Facebook to court over fraudulent cryptocurrency ads he claims were using his name to defraud victims.
The billionaire, nicknamed Twiggy, who accused Facebook of violating money laundering laws, also said that Facebook could not find a solution. He claimed to be profiting from illegal advertising. In line with these allegations, Forrest Section 10 of the Commonwealth Penal Code, with the approval of Attorney General Michaelia Cash made accusations under.
Alleging in the complaint that Facebook’s access to user data has contributed to the proliferation of illegal ads, fake news and other undesirable internet material, Forrest said the company’s failure to remove the ads was “criminal recklessness.”
An Australian victim was accused of scamming crypto ads, court documents show. 952,000 Australian dollars (approx. 680 thousand dollars) lost. The documents also revealed that many victims had been defrauded of millions of dollars.
Forrest’s lawyers said that the defrauded persons exact number or their identity but they don’t know your damage lots large said that. Lawyers also said that ads were being promoted on Facebook to keep Forrest away from fraud. March 2019 since hundreds of thousands of dollars He said he spent.
A spokesperson for Facebook’s parent company Meta detecting ads cheat by blocking advertisers and in some cases by going to court these ads stop stated that they followed a multi-faceted approach to
Forrest, who believes Facebook should do more to prevent the spread of scams on the platform, said scammers are “not easily traced” because they are mostly located overseas.
Stating that the best way to protect Australians is to deter Facebook from allowing itself to be used as a criminal tool, Forrest said about the lawsuit he filed;
Facebook has shown little willingness to self-regulate or take basic steps to protect Australians from the abuse of its platform by scammers and scammers. So I have no choice but to take this action.
made statements.
first trial March 28 The final hearing will be held at the Western Australian Magistrates Court on 2022 It is expected to be done within the year. Facebook by the Australian Courts If found guilty, they could be fined and forced to change the way their ads work.