Odaily Planet Daily News Thailand is planning to seek a court order to shut down Facebook unless Facebook takes steps to deal with alleged investment and cryptocurrency scam ads on its platform. On Aug. 21, the Ministry of Digital Economy and Society (MDES) said more than 200,000 people were duped by Facebook ads promoting cryptocurrency scams, investing in bogus businesses and bogus government agencies, such as the U.S. Securities and Exchange Commission.
Common tactics used by scammers include cryptocurrency investment and trading scams, MDES claims. Some of the ads also allegedly used images 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 that the ministry has negotiated with Facebook on the issue and sent a letter to the platform, claiming that the platform failed to screen advertisers. The ministry is currently collecting evidence of fraudulent advertisements, which are said to be more than 5,300, and is preparing to At the end of this month asked the court to shut down Facebook within 7 days. (Cointelegraph)