Meta denies claim more than half of Facebook crypto ads are scams
Australia’s competition watchdog has claimed 58% of crypto ads on Facebook are scams; Meta says the data is old and unreliable. Go to Source
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Aussie consumer group calls for better crypto regs due to ‘lagging laws’
Australian consumer group CHOICE outlined its crypto regulatory framework in a submission to the country’s Treasury calling for the new federal government to prioritize crypto in its financial services reforms. Go to Source Powered by WPeMatico
Facebook Owner Meta Sued for Publishing Scam Crypto Ads by Australian Regulator
The Australian Competition and Consumer Commission has filed a lawsuit against Meta, formerly Facebook, for “publishing scam advertisements featuring prominent Australian public figures.” The regulator said, “The essence of our case is that Meta is responsible for these ads that it publishes on its platform.” Meta Sued for Publishing Cryptocurrency Scam Ads The Australian Competition … Read more
Australian competition regulator takes Meta to court over fake crypto ads
The ACCC highlighted unapproved or endorsed “scam” ads featuring prominent Australian figures such as entrepreneur Dick Smith, TV host David Koch and former NSW premier Mike Baird in particular. Go to Source Powered by WPeMatico
Aussie competition watchdog investigating Meta over crypto scam ads
The news comes only one day after billionaire Andrew “Twiggy” Forrest announced he would be mounting legal action against the social media giant. Go to Source Powered by WPeMatico
Australians lost over $25 million to bogus crypto investments: Report
Bitcoin-related investment scams have already exceeded $18.5 million, an increase of 44% compared to the total loss of nearly $12.8 million in 2020. Go to Source Powered by WPeMatico
Scammers Pick Bank Transfers Over Cryptocurrency, Australian Report Reveals
Investment scams have been by far the most common type in Australia recently, a new report by the country’s consumer watchdog has revealed. And while a growing number of Australians fall victim to fraudulent schemes involving cryptocurrency, bank transfers remain the scammers’ favorite way to extract money. Australians Lose $670 Million to Scammers in a … Read more
Crypto Scams Comprise 0.6% of Fraud – Australian Consumer Watchdog
The Australian Competition & Consumer Commission (ACCC) has released a report on trends within the scam economy during 2017. The report identifies cryptocurrency related fraud to comprise less than 1% of the scam activity recorded in Australia last year. Also Read: Ross Ulbricht Continues to Fight for Freedom With Supreme Court Petition Cryptocurrency Scams Responsible for … Read more
Report Shows Cryptocurrency Scams Remain Popular in Australia
Cryptocurrencies have become a lot more appealing to the masses over the past few years. With so many new people entering this ecosystem, criminals will try to exploit any and all flaws and weaknesses for some time to come. A new report shows that Australians lost AUD$2.1 million to cryptocurrency scams in 2017. Cryptocurrency Scams … Read more
Australia Cracks Down on Misleading and Deceptive Initial Coin Offerings
Australia’s financial regulator is cracking down on deceptive and misleading initial coin offerings (ICOs), citing “a serious breach of the Australian law.” As a result of the regulator’s inquiries, some issuers have halted their token sales or are modifying their structures. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space ASIC Takes Action Against ICOs … Read more
