Meta Platforms tightens ad rules in Australia to combat financial scams

From Investing.com: 2024-12-01 13:10:36

Meta Platforms has implemented stricter rules for advertisers of financial products targeting Australians to combat scams. Advertisers must now verify their information, including their Australian Financial Services License number, before running ads. Last month, Australia dropped plans to fine internet platforms for spreading misinformation, part of a regulatory crackdown by Canberra.

In a bid to crack down on scams, Meta Platforms has introduced stricter rules for advertisers of financial products targeting Australians. Advertisers must now verify their information, including their Australian Financial Services License number, before running ads. The move follows the removal of 8,000 “celeb bait” ads in October to curb scams using famous personalities.

Australia recently approved a landmark law banning social media for children under 16. This comes amid a regulatory crackdown by Canberra, which dropped plans to fine internet platforms for spreading misinformation. Meta Platforms has implemented stricter rules for advertisers of financial products targeting Australians to combat scams.



Read more at Investing.com: Meta tightens ad rules to curb financial scams aimed at Australians By Reuters