Beginning in early February, Meta will require advertisers of financial services to verify beneficiary and payer information, ensuring higher standards for ad transparency.
Businesses must provide an Australian financial services licence number, while individuals will be required to present government-issued IDs to advertise financial products.
These updates are part of the Australia Online Scams Code, aimed at enforcing compliance for ads related to financial services on Meta's platform.
The new measures reflect similar regulations previously deployed by Meta in Taiwan and the U.K., indicating a broader push for ad authenticity and safety.
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