SEOUL, March 8 (Reuters) - South Korea's antitrust

agency will consider imposing sanctions on Meta Platforms ( META )

for allegedly failing to protect some users of online

marketplaces operated by Facebook and Instagram against

fraudulent transactions, news reports said on Friday.

The Korea Fair Trade Commission (FTC) had investigated

possible violations of the country's e-commerce law and had sent

an examination report to Meta late last year, Yonhap news and

the Dong-a Ilbo newspaper reported, citing unnamed sources.

The report is a step before the agency's commissioners meet

to consider the findings and formally decide on measures.

The agency alleged Meta has failed to implement adequate

measures to protect and provide a remedy to users of Facebook

and Instagram marketplaces when disputes arose over sales

transactions, as required for e-commerce outlets, Yonhap said.

The FTC declined to confirm the report citing its policy of

not commenting on an ongoing investigation.

Meta did not immediately respond to a request for comment.

While Facebook and Instagram are social media platforms and

are not registered as e-commerce businesses, the marketplaces

they operate effectively require them to comply with the law,

Yonhap said.

The news reports came after a South Korean consumer

protection watchdog said it was reviewing the practices of major

overseas shopping platforms, including Alibaba's ( BABA )

AliExpress and Temu.