Meta tightens financial ad rules in Australia

The tech giant’s initiative to combat online scams.

Facebook has rolled out fan challenges, custom badges and new insights, giving creators more ways to recognise top fans and strengthen community engagement on the platform.

Meta Platforms announced stricter regulations for advertisers promoting financial products and services in Australia, aiming to curb online scams. Following an October initiative where Meta removed 8,000 deceptive ‘celeb bait’ ads, the company now requires advertisers to verify beneficiary and payer details, including their Australian Financial Services License number, before running financial ads.

This move is part of Meta’s ongoing efforts to protect Australians from scams involving fake investment schemes using celebrity images. Verified advertisers must also display a “Paid for By” disclaimer, ensuring transparency in financial advertisements.

The updated policy follows a broader regulatory push in Australia, where the government recently abandoned plans to fine internet platforms for spreading misinformation. The crackdown on online platforms is part of a growing effort to assert Australian sovereignty over foreign tech companies, with a federal election looming.