The parent company of Facebook and Instagram, Meta, will tighten requirements for financial services ads, including loans and investments, to combat fraudulent advertising. Social media companies have criticized the new limits as rushed and hard to enforce, while human rights groups argue that an outright ban is disproportionate. Meanwhile, the Australian government is proposing new competition powers to target anti-competitive behaviors among digital giants, with potential penalties of up to $50 million or 30% of a company’s turnover.
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