Thailand government warns Facebook to shut down over alleged scam ads or face closure
Facebook may face a court-ordered shutdown in Thailand if it does not take action against alleged scam ads on its platform. On August 21, the Ministry of Digital Economy and Society (MDES) said that over 200,000 individuals had been harmed by Facebook advertisements promoting cryptocurrency frauds, phony investments, and bogus government organizations like the Securities and Exchange Commission.
The MDES claimed that the scammers used popular tactics such as crypto investment and trading scams. They also used images of celebrities and well-known financial figures and promises of up to 30% daily returns to attract people to their schemes.
According to MDES Minister Chaiwut Thanakamanusorn, the platform controlled by Meta was contacted by the ministry, which also issued a letter to it. Still, they stated that Meta did not check the advertisements. The ministry is gathering proof of the fraudulent adverts, which it claimed to be over 5,300 in number. At the end of the month, it intends to request that a judge order Facebook’s immediate shutdown.
The ministry also warned about how the scams usually work and advised consumers to be careful of promises of high and guaranteed returns and ads using images of well-known figures. It also said consumers should refrain from investments that pressure or incentivize them to invest quickly with limited offers and businesses or platforms with no verifiable information. Meta did not respond to Cointelegraph’s request for comment.
