applancer Advertise

Martin Lewis To Sue Facebook For Fraudulent Digital Currency Advertisements

Apr 24, 2018 Posted /  2629 Views

Martin Lewis To Sue Facebook For Fraudulent Digital Currency Advertisements

Martin Lewis, an English finance journalist, is set to knock the doors of High Court against Facebook, blaming the social network for slander linked with misleading digital currency advertisements.

Lewis will initiate a legal process against the organisation asserting that last year the social media platform had distributed in excess of 50 digital currency advertisements with unlawful utilisation of his face and name to market the financial products. He says that the advertisements frequently advertised get rich schemes with titles like bitcoin code or cloud trader, which are fronts for binary trading organisations based outside Europe and financially perilous. Martin Lewis remarked:

“I don’t do adverts. I’ve told Facebook that. Any ad with my picture or name in is without my permission. I’ve asked it not to publish them, or at least to check their legitimacy with me before publishing. This shouldn’t be difficult – after all, it’s a leader in face and text recognition.”

Lewis asserts that Facebook doesn't constrain the dispersal of the commercials in spite of his efforts to report the promotions, he added:

“Even when they are reported, many have been left up for days or weeks. And finally, when they are taken down the scammers just launch a new, nearly identical campaign very soon afterwards and the whole rigmarole starts again.”

At the beginning of this year, Facebook reported a restriction on advertisements that utilises misdirecting or misleading promotional activities, including promotions of digital currencies and Initial Coin Offerings (ICOs). With that move, Facebook allegedly plans to make it harder for fraudsters to benefit from an existence on the social networking website.

Later in March, search engine, Google, refreshed its Financial Services policy and will ban digital currency related advertisements in June 2018.

Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .

For more details on how you can submit an opinion or any news , view our Editorial Policy or email [email protected].

Tags: digital currency misleading digital currency advertisements Martin Lewis to sue Facebook

Hottest Blockchain Newsletter

For updates and exclusive offers, enter your e-mail below.