The MoneySavingExpert founder has announced on his blog that he is issuing the social media giant with court papers for defamation for publishing the scam posts.
Martin wrote: "Enough is enough. I've been fighting for over a year to stop Facebook letting scammers use my name and face to rip off vulnerable people - yet it continues. I feel sick each time I hear of another victim being conned because of trust they wrongly thought they were placing in me. One lady had over £100,000 taken from her.
"I don't do adverts. I've told Facebook that. Any ad with my picture or name in is without my permission. I've asked it not to publish them, or at least to check their legitimacy with me before publishing. This shouldn't be difficult - after all, it's a leader in face and text recognition. Yet it simply continues to repeatedly publish these adverts and then relies on me to report them, once the damage has been done.
"It's time Facebook was made to take responsibility. It claims to be a platform not a publisher - yet this isn't just a post on a web forum, it is being paid to publish, promulgate and promote what are often fraudulent enterprises. My hope is this lawsuit will force it to change its system. Nothing else has worked. People need protection.
"And of course, on a personal note, as well as the huge amount of time, stress and effort it takes to continually combat these scams, this whole episode has been extremely depressing - to see my reputation besmirched by such a big company, out of an unending greed to keep raking in its ad cash."