Beginning in early February, Meta will require advertisers seeking to run ads about financial services to verify information about the beneficiary and payer, aiming to enhance transparency and combat fraud.
Australia's Online Scams Code mandates that ads for financial products or services comply with Meta's verification and disclaimer requirements before publication, highlighting a collective industry effort against online scams.
To ensure compliance, businesses must provide their Australian financial services license number or declare an exemption, while individuals need to present a government-issued ID, reinforcing Meta's commitment to safety.
This update mirrors similar regulations previously implemented in Taiwan and the U.K., indicating Meta's global approach to tackling online scams and ensuring advertisement integrity.
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