Meta Introduces Stricter Verification for Financial Ads to Combat Scams in Australia

The new rules require advertisers to verify credentials and disclose payer and beneficiary details to reduce fraudulent activity on Facebook and Instagram.

• Meta's new policy mandates financial advertisers targeting Australian users to verify their credentials, including Australian Financial Services Licence numbers or government-issued IDs.
• The changes aim to curb scams using deepfake celebrity endorsements, which have caused significant financial losses for Australians in 2024.
• Advertisers must disclose payer and beneficiary information, which will be displayed in a 'Paid for By' disclaimer visible to users.
• The rollout of these stricter ad verification measures will begin this month and is expected to be fully implemented by February 2025.
• The move follows mounting political and regulatory pressure, with Australia proposing new laws to hold digital platforms accountable for scams and consumer protection.

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