Thailand is taking a serious stance against Facebook due to concerns over the proliferation of alleged investment and cryptocurrency scam advertisements on its platform.
The country’s Ministry of Digital Economy and Society (MDES) is considering the possibility of seeking a court order to shut down Facebook in Thailand if the social media giant doesn’t take effective measures to address the issue.
Scam Surge Hits Over 200,000 or Frequent Rise in the Victim Count
The Ministry of Digital Economy and Society (MDES) revealed that over 200,000 individuals fell victim to crypto scams, fake business offers, and even imitation government agencies, all promoted through Facebook ads.
The misleading advertisements often promised excessive daily returns, some as high as 30%, and exploited images of celebrities and prominent financial figures to attract unsuspecting users to get involved.
MDES Leader Expresses Concerns about Facebook’s Response
Chaiwut Thanakamanusorn, the Minister of MDES, has expressed his disappointment with Facebook’s response so far.
Despite talks and communication with the platform’s parent company, Meta, the issue has not been effectively resolved.
The Ministry believes that Facebook is not adequately screening its advertisers to prevent these scams from reaching users.
Gathering Evidence for Legal Action
The MDES is actively gathering evidence to support its case against Facebook. It has identified more than 5,300 instances of scam ads.
By the end of the month, if the situation doesn’t improve, the Ministry plans to take its concerns to court and request a court-issued shutdown order against Facebook. If granted, this order could force Facebook to discontinue its operations in Thailand within just seven days.
Ministry’s Advice for the Public
To protect the public from falling victim to such scams, the Ministry has provided some guidance. It advises individuals to be cautious of any investment that promises exceptionally high and guaranteed returns.
They should be skeptical of ads using celebrity images to add legitimacy and should also be wary of investment opportunities that create urgency through limited-time offers.