Social media platforms must verify advertisers’ identities under new Singapore code

Social media giants Facebook, Instagram, and TikTok must verify advertisers' identities against government records and block ads from unlicensed financial services firms, according to a new Code of Practice for Social Media Services in Singapore. The rule will take effect by January 31, 2027. Failure to comply could result in fines of up to $1 million and $100,000 per day for each violation after conviction.

The regulation aims to combat investment scams, which recorded the highest losses in the first half of 2026, with 2,256 cases and $169.8 million lost. Facebook, Instagram, and TikTok accounted for about 30% of total scam cases in 2025, with Facebook alone responsible for 18% of those cases. The police emphasized that these platforms pose the highest scam risk to users in Singapore and must prevent advertisements suspected of being linked to scams from being published.