07:55 AM EST, 03/08/2024 (MT Newswires) -- Meta Platforms ( META ) may face sanctions from South Korea's antitrust regulator over allegedly not protecting consumers from fraudulent transactions on Facebook and Instagram, Yonhap News Agency reported Friday, citing unnamed sources familiar with the situation.

South Korea's Fair Trade Commission carried out a probe into Meta's purported breaches of the country's e-commerce law, the report added, citing the sources.

The investigation mostly focused on the technology giant's handling of consumer issues within the Facebook Marketplace and Instagram Marketplace, the report said, citing the sources.

Neither Meta nor the South Korean regulator immediately responded to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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