According to Cointelegraph, Thailand is planning to seek a court order against Facebook unless Facebook takes steps to deal with advertisements on its platform suspected of investment and cryptocurrency scams.
On August 21, the Ministry of Digital Economy and Society (MDES) said that more than 200,000 people were deceived by Facebook ads that promoted cryptocurrency scams, investments in fake businesses, and fake government agencies, such as the U.S. Securities and Exchange Commission. MDES claimed that common tactics used by scammers include cryptocurrency investment and trading scams.
Some of the ads also allegedly used pictures of celebrities and well-known financial figures and promised daily returns of up to 30 percent to lure people into the schemes. MDES Minister Chaiwut Thanakamanusorn said the ministry had negotiated with the Meta-owned platform over the issue and sent a letter to the platform, but claimed the platform failed to screen advertisers.