2023-08-23 17:04:57
In order to crack down on crypto fraud, Thailand is preparing to take dramatic action against Facebook. The Ministry of Digital Economy and Society (MDES) has unveiled a plan to seek a court-ordered stoppage against Facebook if the social media platform does not take swift action to curb fraudulent ads. The campaigns launched by fraudsters, which have already resulted in 200,000 victims in the country, involve fake investment opportunities, crypto scams, and financially ruin unsuspecting victims. Thailand is determined to protect its citizens against crypto scams spreading on Facebook Chaiwut Thanakamanusorn, a prominent spokesman for the ministry, conveyed the government’s unwavering stance to Archyde.com. He stressed: We are asking the court to shut down Facebook and stop it from providing services in Thailand if these fake sites are allowed to scam people. Since repeated appeals to Facebook to delete the identified fraudulent ads did not lead to results, the Ministry of Digital Economy and Society is forced to initiate court intervention. With this, their primary goal is to protect citizens from falling victim to these manipulative and fraudulent ads. Cunning tactics: Celebrities and financial big guns The repertoire of scams identified is remarkably diverse and includes scams ranging from crypto-investments to straight-up Ponzi schemes. In order to ensnare unsuspecting prey, fraudulent ads resort to a whole range of cunning tactics. Some even take advantage of the credibility attributed to famous personalities, the scams with pictures of celebrities and prominent financial figures. By the way, we can cite several examples from home. With promises of up to 30% daily returns and exorbitantly rising profits, these schemes cunningly manipulate people with no financial knowledge for the purpose of robbing them of all their wealth. The ministry issued a clear warning against the telltale signs of such scams and asked the public to be vigilant against tempting but suspicious offers and fake profiles. Ministry spokesman Wetang Phuangsup said authorities are meticulously gathering evidence to support Facebook’s role in committing fraud. These will supposedly be presented in court at the appropriate time. The move is undoubtedly bold, but the outcome also depends on how complicit Facebook is in spreading fraud. Possible outcomes can range from the closure of identified pages and accounts associated with fraudulent activities to the complete closure of the platform under Thailand’s jurisdiction.
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