Australia’s consumer watchdog has filed a lawsuit against Facebook’s parent company Meta over cryptocurrency scam ads, which conned AU$100 million (US$73.83 million) from Australians last year. The Australian Competition and Consumer Commission (ACCC) has filed the legal action in the Federal Court of Australia, alleging the tech giant knew scam ads were running on Facebook but did little about it. “It is a key part of Meta’s business to enable advertisers to target users who are most likely to click on the link in an ad to visit the ad’s landing page, using Facebook algorithms,” ACCC Chair Rod Sims said in a statement. “Those visits to landing pages from ads generate substantial revenue for Facebook.” “The ACCC alleges that the ads, which promoted investment in cryptocurrency or money-making schemes, were likely to mislead Facebook users into believing the advertised schemes were associated with well-known people featured in the ads,” he …