Thai lawmaker seeks court order to shut down Facebook over fraud accusations
A Thai lawmaker is taking legal action to shut down Facebook in Thailand by the end of the month. The lawmaker accuses the social media platform of supporting fraudulent investment schemes. This move comes after Thailand’s Ministry of Digital Economy and Society (DES) demanded that Meta’s Facebook take action to curb the number of fraudulent crypto investment scams being advertised on the site.
Here are the key points:
– Thai lawmaker seeks court order: The Minister in charge of DES has asked a Thai court to prepare an order that would shut down Facebook if the platform doesn’t comply with curbing fraudulent ads.
– Facebook’s gradual easing of restrictions: Over the past three years, Facebook (now known as Meta) has relaxed its restrictions on cryptocurrency and blockchain-related ads, broadening the criteria and accepted regulatory licenses.
– Previous legal issues: In March 2022, Facebook was sued by the Australian Competition and Consumer Commission for publishing scam crypto ads linked to Australian celebrities.
– Impact on victims: The fraudulent ads on Facebook have affected more than 200,000 people, according to the Ministry’s statement.
– Risk of expulsion: If Facebook fails to address the issue of fraudulent ads, it could face expulsion from Thailand.
Hot Take
This move by the Thai lawmaker to shut down Facebook in Thailand highlights the growing concern over fraudulent investment scams on social media platforms. It puts pressure on Meta to take stronger action against such scams to protect users. The potential shutdown of Facebook serves as a warning to other platforms to be vigilant in monitoring and preventing fraudulent activities in the crypto space.
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