Meta has announced updates to the advertising terms and conditions on its platforms, including Facebook and Instagram. If advertisers wish to promote financial products or services, they must undergo identity verification. The terms stipulate that in addition to verifying their identities, advertisers must also display the license number issued by the government agency providing financial services in order to advertise financial services. Once the advertisement is approved for publishing, the platform will disclose information about who paid for the ad (Paid for By…).
These new regulations come after Meta in Australia encountered issues with deceptive investment advertisements, leading to the closure of over 8,000 related accounts.
Source: Reuters
TLDR: Meta has implemented new advertising rules in Australia, requiring identity verification and government license display for promoting financial services, following issues with misleading investment ads.
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