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Meta must face Australian billionaire Forrest's US lawsuit over scam Facebook crypto ads

Economic Times

Economic Times · 1y ago

Meta must face Australian billionaire Forrest's US lawsuit over scam Facebook crypto ads

A US judge has rejected Meta Platforms' attempt to dismiss a lawsuit filed by Australian mining billionaire Andrew Forrest. The lawsuit alleges that fraudulent Facebook advertisements used Forrest's name and likeness to promote fake investments. The judge ruled that Forrest can proceed with claims of negligence against Meta for allowing the ads and misappropriation of his identity. Meta had argued that it is protected from liability under Section 230 of the federal Communications Decency Act, but the judge disagreed, stating that there is a dispute over whether Meta's ad systems contributed to the content of the ads. Forrest is seeking compensatory and punitive damages.

Related News

Australian prosecutors drop billionaire Andrew Forrest's case against Meta

Economic Times

Economic Times · 1y ago

Australian prosecutors drop billionaire Andrew Forrest's case against Meta

Australian prosecutors have dropped criminal charges against mining magnate Andrew Forrest's prosecution of Meta (formerly known as Facebook) over thousands of scam cryptocurrency ads that used his image. This setback follows Forrest's attempt to hold the social media giant accountable for these ads. However, a civil lawsuit filed in California against Meta is still ongoing. Forrest accused Meta of breaching Australia's anti-money laundering laws by allowing scammers to use its platform to promote fake cryptocurrency schemes, leading people to believe he endorsed them. Forrest plans to continue pursuing the California case.

Meta, Australian banks tout progress on taking down 'celeb bait' scam ads

Economic Times

Economic Times · 9m ago

Meta, Australian banks tout progress on taking down 'celeb bait' scam ads

1. Meta has taken down around 8,000 celebrity bait scam ads from Facebook and Instagram in collaboration with Australian banks. 2. The scams use AI-generated images of famous people to deceive consumers into investing in fictitious schemes. 3. The Australian government plans to introduce an anti-scam law which could impose fines of up to A$50 million on social media companies like Meta. 4. In 2023, Australian scam reports increased by nearly one-fifth, resulting in losses of A$2.7 billion. 5. Meta is facing a lawsuit in Australia for allegedly failing to prevent the dissemination of cryptocurrency advertisements featuring celebrities. 6. Meta is working with Australian banks to identify signs of fraud and scams within ads, while their stance on the proposed anti-scam law is still under consideration.

Australian prosecutors drop billionaire Andrew Forrest's case against Meta

Economic Times

Economic Times · 1y ago

Australian prosecutors drop billionaire Andrew Forrest's case against Meta

Prosecutors in Australia have dropped criminal charges filed by mining magnate Andrew Forrest against Meta (formerly known as Facebook) over alleged scam cryptocurrency ads featuring his image. The decision is a setback for Forrest in his efforts to hold the internet giant accountable. However, a civil lawsuit against Meta in California is ongoing. Forrest accuses Meta of allowing third-party scammers to use its platform to advertise fraudulent cryptocurrency schemes, violating anti-money laundering laws. Forrest plans to continue pursuing the California case. Meta denies responsibility and says it will continue to combat scams on its platforms.

The billionaire suing Facebook to remove his face from AI scams

Livemint

Livemint · 11m ago

The billionaire suing Facebook to remove his face from AI scams

Australian billionaire Andrew Forrest is taking Facebook to court over their alleged failure to stop scam advertisements that use his likeness to promote fraudulent investment schemes. Forrest claims that Facebook's AI-powered ad systems help create and amplify these false ads. This case challenges the broad immunity protections that tech companies have against hosting user-generated content. The judge's ruling to reject Facebook's efforts to dismiss the lawsuit suggests that AI may play a role in litigation related to content originating from users versus the platform's model. Forrest is determined to see the fight through and believes that Facebook must do more to police its platform.

Meta faces $3.6 million fine in Brazil for allowing bogus Havan ads

Economic Times

Economic Times · 10m ago

Meta faces $3.6 million fine in Brazil for allowing bogus Havan ads

Brazilian department store chain Havan has won a lawsuit against Meta Platforms, the parent company of Facebook, accusing it of accepting fraudulent ads that deceive consumers using Havan's name. Meta faces a potential fine of up to $3.62 million and must block unauthorized ads mentioning Havan or its owner within 48 hours or face fines of up to 20 million reais. The judge ruled that Meta's sale of ads in an insecure manner to sustain its business model is unacceptable. Havan sees this decision as a landmark in protecting its rights. Meta can appeal the ruling.

Meta will face antitrust trial over Instagram, WhatsApp acquisitions

Economic Times

Economic Times · 8m ago

Meta will face antitrust trial over Instagram, WhatsApp acquisitions

Judge in Washington ruled that Meta Platforms, formerly known as Facebook, must face trial in a Federal Trade Commission (FTC) lawsuit seeking its breakup. The FTC alleged that Meta illegally acquired Instagram and WhatsApp to eliminate competition in the social media industry. Meta argued that the case had an overly narrow view of social media markets and failed to consider competition from platforms such as TikTok, YouTube, X, and LinkedIn. This lawsuit is one of five major antitrust cases targeting Big Tech, including Amazon, Apple, and Google.

Meta tightens ad rules to curb financial scams aimed at Australians

Economic Times

Economic Times · 7m ago

Meta tightens ad rules to curb financial scams aimed at Australians

Meta Platforms, the parent company of Instagram and Facebook, has implemented stricter rules for advertisers of financial products and services in Australia. This is aimed at cracking down on scams on the social media platforms. Advertisers will now need to verify their information, including their Australian Financial Services License number, before running financial services advertisements. Once verified, advertisers will have to include their payer and beneficiary information in their ads. Previously, Meta removed 8,000 "celeb bait" ads in collaboration with Australian banks to combat scams using famous people's images to deceive consumers.

Facebook owner Meta respects the law only when it suits, says Australia minister

Economic Times

Economic Times · 1y ago

Facebook owner Meta respects the law only when it suits, says Australia minister

Australia's financial services minister, Stephen Jones, accused Meta (formerly Facebook) of considering themselves above the law and engaging in anti-competitive behavior. He criticized the company for its decision to quit licensing deals with Australian news media and stated that such behavior harms economies and democracy worldwide. Jones emphasized the need for Meta to comply with laws in democratic countries like Australia. The minister is still considering implementing a law that would determine the payment Meta should provide to media for content posted on its sites. Jones also mentioned ongoing discussions with prominent Australians, including Andrew Forrest, who is battling Meta in a US court over scam cryptocurrency advertisements featuring his image.

Polish billionaire plans to sue Meta over fake advertisements

Economic Times

Economic Times · 11m ago

Polish billionaire plans to sue Meta over fake advertisements

Polish billionaire Rafal Brzoska and his wife are planning to sue Meta (formerly Facebook) over fake advertisements that feature his face and false information about his wife. They have notified the company about the problem but have not received a satisfactory solution. They intend to file a private lawsuit against Meta, considering various jurisdictions including the United States. They demand that Meta stop promoting content that violates their rights and seek substantial compensation, which will be donated to charity. Meta has not yet commented on the issue. The Polish Personal Data Protection Office has already ordered Meta to cease displaying false advertisements in Poland for three months.

Meta Platforms must face class action for breaching medical privacy of patients

Economic Times

Economic Times · 1y ago

Meta Platforms must face class action for breaching medical privacy of patients

Meta Platforms, formerly known as Facebook, is facing a lawsuit alleging that it violated medical privacy by capturing and transmitting sensitive healthcare information through its Meta Pixel tracking tool. The lawsuit claims that Meta made money from targeted advertising using this information. US District Judge William Orrick in San Francisco ruled that the case could proceed, citing plausible allegations of privacy violations. While some claims were dismissed, the plaintiffs can replead them. The lawsuit seeks unspecified damages for Facebook users whose health information was obtained by Meta. Both Meta and the plaintiffs' lawyers have yet to comment on the ruling.

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