Is Meta Responsible For Scam Ads?

The Australian Competition and Consumer Commission has commenced legal action against Meta Platforms, the parent company of Facebook, over scam ads on its platforms.

The ACCC is alleging that Meta engaged in "false, misleading, or deceptive conduct" in relation to cryptocurrency scams on Facebook that involve fake celebrity endorsements.

So how do these scams work, and what else can Meta do to stop them?