Meta Strengthens Advertising Rules In Australia To Overcome Financial Fraud

Meta strengthens ad rules on its platform (photo: dock. Meta)

JAKARTA Meta has been trying to solve fraud problems on its platform for years. This time, to strengthen security on a number of its platforms, Meta introduced stricter advertising rules.

The owner of Instagram and Facebook said that this rule was made specifically for financial product advertisers or services targeting Australians. Meta believes that stricter rules can reduce the number of scams.

This new policy is a further step towards abolition of fraudulent advertisements last October. Mark Zuckerberg's company has removed more than 8,000 ads known as celeb-bait ads.

This mention is given because some fraudsters try to attract victims by using pictures of famous people. Usually, this scam will make the victim believe in making investment schemes. In fact, their money will not be invested.

In the latest policy, advertisers must verify recipient and payer information. If advertisers are financial services, they must provide an Australian Financial Services License number. Without certification, they cannot advertise.

"Recognition of financial advertising verification is an important additional step to protect the public in Australia from these advanced fraudsters," said Meta Managing Director ANZ Will Easton, quoted by Reuters.

Once Meta verifies its license number, advertisers will be asked to submit payment information and beneficiaries of the ads to be entered into the platform. Once reviewed by Meta, these advertisers in Australia will see approved ad signatures.

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