Thailand threatens Facebook shutdown over crypto scams
Thailand has warned Facebook of a potential shutdown due to the rise in crypto scams and misleading ads on the platform. The Minister of Digital Economy and Society (DES), Mr. Chaiwut Thanakmanusorn, is taking action against fraudulent activities on Facebook. The DES plans to present its findings in Thai court, advocating for the platform’s shutdown unless prompt corrective actions are made. The ministry revealed that over 200,000 individuals have been duped by scams on Facebook’s advertising network. These scams include fake crypto currency investments and counterfeit enterprises, often featuring endorsements from celebrities to mislead the public. You might also like: Bank of Thailand announces CBDC pilot project Meta’s inaction draws criticism Despite ongoing dialogue with Facebook’s parent company, Meta, Minister Chaiwut has criticized the platform for not effectively curbing misleading ads. He claims Facebook’s lax oversight has le...