Australia is suing the owner of Facebook Meta over fraudulent advertising for cryptocurrency schemes that falsely claimed to be backed by prominent figures, AFP reports.

The Consumer Protection Commission of Australia said it has filed a Federal Court case against Meta Platforms for "false, misleading conduct" in violation of consumer protection or securities laws.

She accused Meta of not doing enough to stop fraudulent cryptocurrency ads or money-making schemes, even after being warned by celebrities who were misled by similar ads posted on Facebook.

The social media giant said it worked with the Australian Competition and Consumer Commission.

Famous Australians starred in the ad, including former New South Wales Prime Minister Mike Baird and businessman Dick Smith, according to the commission. But the celebrities featured in the ads never endorsed or supported the schemes, the report said.

The Commission said it was aware of one consumer who lost more than A$650,000 ($480,000) in fraud.