ACCC unfriending Facebook in Federal Court over misleading scam ads. I speak with competition czar Rod Sims on his final day in the top job.

The social media giant Facebook is being taken to the Federal Court for allegedly failing to block scam advertisements featuring high profile Australians.

The Australian Competition and Consumer Commission claims Facebook's parent company Meta engaged in false, misleading and deceptive conduct by publishing the ads that were likely to mislead vulnerable consumers.

ACCC chair Rod Sims alleges one victim lost $650,000 after being conned to invest in a fake cryptocurrency scheme.

I spoke with Rod Sims on his final day as competition czar.