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The social media behemoth is facing serious allegations about its cryptocurrency practises. Facebook has once again found itself at the centre of a controversy. It's as if the social media behemoth, which changed its name to Meta Platforms (FB) - Get Meta Platforms Inc. Class A Report last October, was struggling to manage its practises. The Australian Competition and Consumer Commission (ACCC) has decided to sue Meta for allegedly "aiding and abetting" celebrity scam advertisements on Facebook, which have cost some Australians hundreds of thousands of dollars." In a press release, the regulator claimed that Meta "engaged in false, misleading, or deceptive conduct by publishing scam advertisements featuring prominent Australian public figures." The ACCC claims that this behaviour violated the Australian Consumer Law (ACL) and the Australian Securities and Investments Commission Act (ASIC Act). False Advertisements Associated with Celebrities It is also claimed that Meta aided and abetted or was knowingly involved in the advertisers' false or misleading conduct and representations. "The ads, which promoted cryptocurrency investment or money-making schemes, were likely to mislead Facebook users into believing the advertised schemes were associated with well-known people featured in the ads, such as businessman Dick Smith, TV presenter David Koch, and former NSW Premier Mike Baird," the ACCC said. Including: "The schemes were actually scams, and the people featured in the advertisements had never approved or endorsed them" The ads, according to the regulator, contained links that directed Facebook users to a fake media article that included quotes attributed to the public figure featured in the ad endorsing a cryptocurrency or money-making scheme. "Users were then invited to sign up and were contacted by scammers who used high-pressure tactics, such as repeated phone calls, to convince users to deposit funds into the bogus schemes." "The essence of our case is that Meta is responsible for the advertisements that it publishes on its platform," said ACCC Chair Rod Sims. "Using Facebook algorithms, it is a critical part of Meta's business to enable advertisers to target users who are most likely to click on a link in an ad and visit the ad's landing page." These ad-generated landing page visits generate significant revenue for Facebook." "In one shocking case, we are aware of a consumer who lost more than $650,000 as a result of one of these scams being falsely advertised on Facebook as an investment opportunity." "It's a disgrace," Mr Sims said. Meta is said to have been aware that celebrity endorsement cryptocurrency scam ads were being displayed on Facebook but did not take adequate steps to address the problem. Even after public figures all over the world complained that their names and images had been used in similar ads without their permission, the celebrity endorsement cryptocurrency scam ads were still being displayed on Facebook. Penalties, costs, and other orders are sought by the regulator. Meta did not respond when contacted by TheStreet. However, according to other news outlets, Meta has stated that it will defend the proceedings. Facebook is accused of using a'malicious technique.' "We don't want ads on Facebook that try to scam people out of money or mislead people – they violate our policies and are bad for our community." We use technology to detect and block scam ads, and we work hard to stay ahead of scammers' attempts to circumvent our detection systems "According to a spokesperson for The Guardian. "To date, we have cooperated with the ACCC's investigation into this matter." Between October and December of last year, Meta removed 1.7 billion fake accounts and 1.2 billion pieces of spam content – more than 99.9 percent and 99.6 percent of each were disconnected before they were reported. In 2020, Mark Zuckerberg's company filed a lawsuit against Basant Gajjar in California. "Under the alias 'LeadCloak,' Gajjar violated Facebook terms and policies by providing cloaking software and services designed to circumvent automated ad review systems, ultimately running deceptive ads on Facebook and Instagram," Facebook said in April 2020. Cloaking, according to the company, is a malicious technique that impedes ad review systems by concealing the nature of the website linked to an ad. When ads are cloaked, a company's ad review system may see a website displaying a seemingly innocuous product, such as a sweater, but a user will see a different website promoting deceptive products and services, which are often prohibited. "Leadcloak's software was used in this case to conceal websites containing scams related to COVID-19, cryptocurrency, pharmaceuticals, diet pills, and fake news pages. Some of these cloaked websites also included celebrity images "In a blog post at the time, Jessica Romero, Facebook's director of platform enforcement and litigation, stated. Support us!
Former premier Mike Baird tells ICAC Gladys Berejiklian should have disclosed relationship with Daryl Maguire
This week, the Centre's Executive Director Wayne Burns speaks to Bay Warburton. Bay, formerly Chief of Staff to NSW Premier Mike Baird, now Head of Stakeholder Relations at Mirvac, talks to Wayne about the differences between public and private sector, and gives his tips on how to successfully move between the two.
In this week’s episode of Talking Eds, the team behind Campus Review, Education Review and Early Learning Review look at what role should robots play in the classroom, how investment in fossil fuels is fueling dissent among universities, catch up on the Federal Government’s overhaul of the VET system and experience NSW Premier Mike Baird throwing shade on his interstate rivals…
In this week’s episode of Talking Eds, the team behind Campus Review, Education Review and Early Learning Review look at what role should robots play in the classroom, how investment in fossil fuels is fueling dissent among universities, catch up on the Federal Government’s overhaul of the VET system and experience NSW Premier Mike Baird throwing shade on his interstate rivals…
In this week's episode of Talking Eds, the team behind Campus Review, Education Review and Early Learning Review look at what role should robots play in the classroom, how investment in fossil fuels is fueling dissent among universities, catch up on the Federal Government's overhaul of the VET system and experience NSW Premier Mike Baird throwing shade on his interstate rivals...
Our friend Joel Creasey paid us a visit today to make the startling claim that Hilary Clinton is stealing from him. We’re not sure where he’s going with this either, but we’re prepared to listen. Plus, NSW Premier Mike Baird called through to explain his backflip on the state’s greyhound racing ban. See acast.com/privacy for privacy and opt-out information.
In late 2015, the Greater Sydney Commission was established to oversee metropolitan planning and development in Sydney. The commission is intended to function as a partnership between state and local governments, with both the power to create overarching planning proposals and the mandate to work with local governments on local planning controls. NSW Premier Mike Baird has tasked the commission with delivering 680,000 new homes by 2031, with the aim of tackling the city’s unfolding housing affordability crisis. In December, Lucy Turnbull was announced as the inaugural chief commissioner for the Greater Sydney Commission. In addition to a successful career in commercial law and investment banking, Turnbull has a history in local government – in 2003 she became the first female lord mayor of Sydney – and is the author of the 1999 book Sydney: Biography of a City. Since 2010 she has been the deputy chair of the Coalition of Australian Governments’ City Expert Advisory Panel. Dallas Rogers spoke with Lucy Turnbull on the establishment of the Greater Sydney Commission, its structure, plans and mandate from the premier, as well as criticism from some urban planning experts that the commission is an undemocratic “top-down” approach to development. Subscribe to The Conversation’s Speaking With podcasts on iTunes, or follow on Tunein Radio. Music from Free Music Archive: Liquor Files - Treacle by Blue Dot Sessions. Further reading: “Participatory, technocratic and neoliberal planning: an untenable planning governance ménage à trois” by Laura Schatz and Dallas Rogers in Australian Planner. “Monitory Democracy as Citizen-driven Participatory Planning: The Urban Politics of Redwatch in Sydney” by Dallas Rogers in Urban Policy and Research. Dallas Rogers does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Today on the show, Kyle and Jackie O welcomed NSW Premier Mike Baird in studio, who arrived in his Delorean to mark 'Back To The Future' Day! The guys also hung out in studio with the beautiful Sophie Monk. Learn more about your ad choices. Visit megaphone.fm/adchoices
Justin Smith speaks with NSW Premier Mike Baird, who is ready for a fight with local councils on amalgamation
Today on the show, Kyle and Jackie O experienced a very special Talking Dead with Georgina Walker, they spoke to the NSW Premier Mike Baird on the phone, played Kyle's new favourite dating game, Too Much Information and Sally Obermeder and Tom Williams stopped by to play '10 Things I Hate About You!' Learn more about your ad choices. Visit megaphone.fm/adchoices
Today on the show, Kyle and Jackie O speak to Matt and Kya after their big surprise! They also speak to man of the hour Ed Sheeran, who announces he's single! NSW Premier Mike Baird also stepped in to decide who the Premier of the show will be. Learn more about your ad choices. Visit megaphone.fm/adchoices