German court rules Meta liable for scam ads on Facebook and Instagram

The Frankfurt Regional Court ruled that Meta is liable for fake investment ads on Facebook and Instagram placed by third parties. The company was ordered to remove the ads, stop their distribution, and pay compensation to Finanzfluss and its co-founder Thomas Kehl; the amount of damages is not yet determined. The ruling can be appealed.

• Frankfurt court orders Meta to remove scam ads and pay compensation
• Finanzfluss reported nearly 260 violations to Meta in August 2024 alone
• Some fake ads remained online for up to 62 days
• Meta said it disagrees with the ruling and is considering further steps