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How will Meta respond to the Australian regulator's claims about scam crypto ads by the end of 2024?
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Resolution / Starting Odds
Acknowledges issue and takes action • 25%
Denies issue and takes no action • 25%
Acknowledges issue but takes no action • 25%
Denies issue but takes action • 25%
Official announcements from Meta
Story
Regulators Claim 58% of Crypto Ads on Facebook Are Scams
Aug 15, 2024, 12:56 AM
A significant portion of cryptocurrency advertisements on Facebook have come under scrutiny, with allegations from consumer regulators that many of these ads are scams or violate Meta's policies. Reports indicate that up to 58% of these ads are fraudulent, highlighting concerns over the platform's advertising practices. The Australian regulator has been particularly vocal, claiming that a majority of crypto ads on Facebook are scams. This revelation underscores the ongoing challenges faced by Meta in policing its advertising content and ensuring compliance with its own guidelines.
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Supportive • 25%
Neutral • 25%
Opposed • 25%
No official response • 25%
Implement opt-out option • 25%
Stop data scraping in Australia • 25%
Increase transparency without opt-out • 25%
Other • 25%
Facial Recognition • 25%
AI-based Content Moderation • 25%
User Reporting System • 25%
Other • 25%
Less than 5,000 • 25%
5,000 to 10,000 • 25%
10,001 to 15,000 • 25%
More than 15,000 • 25%
Apology and policy change • 25%
Apology without policy change • 25%
No apology but policy change • 25%
No response • 25%
Acknowledges issue and plans action • 25%
Denies responsibility • 25%
No response • 25%
Other • 25%
Issue an apology • 25%
Introduce new privacy controls • 25%
No significant response • 25%
Other • 25%
Policy changes • 25%
No changes • 25%
Legal action • 25%
Settlement • 25%
