Facebook Again Faces Allegations Regarding False Crypto Ads

Martin Lewis has again alleged Facebook for not taking down fake crypto ads that feature his likeness. And, this is not the first time that it has happened, Lewis is already fighting ongoing battles regarding the same issues with Facebook.

The social media giant was also sued by regulators in Australia over this very problem recently. The Australian Competition & Consumer Commission (ACCC) brought the case into the limelight.

The chair of the organization Rod Sims has said that Facebook was aware of the situation yet didn’t take any action to control it.

He stated:

Letting advertisers target users who are most likely to click on the link in an ad to visit the landing page of an ad leveraging Facebook’s algorithms, is a major part of the Meta’s(Facebook’s) business. Visits on landing pages from ads yield revenue for the social-media giant.

Facebook is again in a rough patch as Martin Lewis has revealed that several new crypto ads featuring him are being shown on Facebook claiming that investors can make anywhere between 190 to 3,400 pounds a month investing in various crypto ventures. Lewis says that he hasn’t promoted any such platforms, nor has granted permission to use his picture.

The social media giant even has rules to handle such issues. According to the company’s current policies,

“Ads must not contain deceptive, false, or misleading claims, such as those relating to the effectiveness of characteristics of a product or service.”

As stated above, this is not the first time that Lewis has alleged Facebook. The two share a long feuding history. In 2018, the two-faced each other legally when Lewis claimed that over 1,000 crypto scam advertisements were using his face to market some product, eventually collecting thousands of dollars from unsuspecting investors who wound up sending their money to criminals, in a high court legal battle.

Lewis, at that time, said that they could reach this point without taking any legal action, however, he added that once Facebook soon realized the intensity of the problem and its impact on people once they started talking. The social media giant also committed to a difference both on its own platform and across the wider sector.

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