top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.


The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen


18 Mar 2022

Australian Competition Authority Sues Meta over Fraudulent Crypto Commercials

The Index Today

Australia’s competition authority has sued Facebook’s parent company Meta Inc. for allegedly posting fraudulent cryptocurrency advertisements featuring unsuspecting Australian celebrities.

According to Bloomberg News, the Australian Competition & Consumer Commission revealed on Friday that Meta circulated ads featuring notable public figures like David Koch and Dick Smith that promoted scam crypto schemes, with the intent to defraud people. The ACCC added that the company “engaged in false, misleading or deceptive conduct” with one person even losing over $480,000 as a result.

ACCC Head Rod Sims said, “It is alleged that Meta was aware that the celebrity endorsement cryptocurrency scam ads were being displayed on Facebook, but did not take sufficient steps to address the issue.”

Meta’s Sydney-based spokeswoman said, “We don’t want ads seeking to scam people out of money or mislead people on Facebook — they violate our policies and are not good for our community.” She also added the company will “review the recent filing by the ACCC and intend to defend the proceedings.”

Clay pottery with table linens
bottom of page