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There have been numerous complaints from Facebook advertisers about click fraud, which has apparently been ramped up in recent days. Facebook has acknowledged the issue and claims to be doing something about it.
A thread at the WickedFire forum highlighting the problem, which got considerably more attention once tech blog TechCrunch referenced it. Facebook's Brandon McCormick gave TechCrunch's Michael Arrington a statement on the matter, which said:

We take click quality very seriously and have a series of measures in place to detect it. We have large volumes of data to analyze click patterns and can identify suspicious activity quickly.

Over the past few days, we have seen an increase in suspicious clicks. We have identified a solution which we have already begun to implement and expect will be completely rolled out by the end of today (06/21). In addition, we are identifying impacted accounts and will ensure that advertisers are credited appropriately.

Click fraud reportedly reached record levels at the end of last year, but began to decline early this year. Last month, the Interactive Advertising Bureau released its click measurement guidelines to serve as a framework for identifying click fraud. Microsoft is currently trying to set an example by suing a few alleged click fraudsters for $75,000.