(CLO) On December 2nd, Meta, the owner of Instagram and Facebook, announced it will implement stricter regulations for advertisers of financial products and services targeting Australians, with the aim of preventing online scams on social media.
Meta stated that advertisers will have to verify beneficiary and payer information, including their Australian Financial Services License number, before financial ads are allowed to run on the platform.
"The rollout of financial advertiser verification is an important step toward protecting Australians from sophisticated scammers," Meta ANZ CEO Will Easton said in a statement.
Illustration photo: Reuters
This move comes after Meta announced it had removed 8,000 "celebrity-baiting" ads in October, as part of an effort to work with Australian banks to mitigate scams that exploit celebrity endorsements to trick consumers into participating in fraudulent investment schemes.
The company also announced that after an ad is verified, advertisers will have to add information about the payer and beneficiary to the ad, and this information will be displayed with the text "Paid by" after the ad is approved.
Last month, Australia's center-left government abandoned plans to fine internet platforms up to 5% of their global revenue if they failed to stop the spread of misinformation online. The bill was part of Australia's campaign to crack down on technology regulation and was introduced ahead of a federal election expected within a year.
Australia has also passed a landmark law banning children under 16 from using social media.
Ngoc Anh (according to Reuters)
Source: https://www.congluan.vn/meta-that-chat-quy-tac-quang-cao-de-han-che-lua-dao-o-uc-post323829.html
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