The answer IMHO is to make the platforms responsible, not just for advertisements but for everything they publish. Facebook, Tiktok etc. should be hit each time they publish a false advertisement or a libellous statement, in the same way as newspapers, television channels etc are.
Chance would be a fine thing, Faceache, Tiktac, etc are above the law and cry 'free speech' when challenged. They don't even take off sites that promote suicide so what chance for a false advert.