I feel that all countries should be doing something similar.
Google does so knowingly. People are reporting the ads via the provided workflow and describe the scam. Yet the same scams persist. In spite of being informed about scammy advertisers, Google takes their money.
I would say that Facebook do have a valid point if they say that they are not liable for posted scammy content, even that content manipulates their algorithms in order to reach users. Google do not have any similar such defense.