Mining magnate Andrew “Twiggy” Forrest has launched a criminal case alleging Facebook breached anti-money laundering laws.

Dr Forrest, chair of iron ore firm Fortescue Metals, is upset about ads that promoted cryptocurrency scams using fake advertisements featuring celebrities, including himself.

Facebook - which is now a subsidiary of a parent company called Meta - says the scam ads are banned on its platform. 

“We take a multifaceted approach to stop these ads, we work not just to detect and reject the ads themselves but also block advertisers from our services and, in some cases, take court action to enforce our policies,” a Meta spokesperson said this week. 

“We’re committed to keeping these people off our platform.”

Dr Forrest’s lawsuit reportedly claims Facebook does not have proper systems in place or a culture to prevent its site being used to perpetrate the scams.

The case will deploy a little known provision in federal law that permits private citizens to bring criminal actions with the assent of the Attorney-General.

“This action is being taken on behalf of those everyday Australians – mums and dads, grans and grandads – who work all their lives to gather their savings and to ensure those savings aren’t swindled away by scammers,” Dr Forrest said in a statement. 

“I’m acting here for Australians, but this is happening all over the world.”

Three charges against Facebook in Australia will have an initial hearing in the WA Magistrates Court on March 28.

Dr Forrest has also filed a civil lawsuit in California.

“I want social media companies to use much more of their vast resources and billions of dollars in annual revenue to protect vulnerable people – the people who are targeted and fall victim to these horrible scams with their hard-earned savings,” he said.