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South Korea’s antitrust agency, the Fair Trade Commission (FTC), is considering imposing heavy fines on Meta Platforms, saying it failed to protect users from fraud.
The investigation focused on consumer issues on Facebook Marketplace and Instagram Marketplace. South Korea’s “E-Commerce Law” requires e-commerce platforms to provide seller information and consumer complaint resolution mechanisms, accusing Meta of failing to meet these requirements.
Although Meta is primarily a social media provider, the FTC believes that it qualifies as an e-commerce platform in terms of business accounts.
The FTC declined to confirm the report, and Meta did not comment.
(Source: Oriental Daily Picture source: unsplash)
