Social media platforms must verify advertisers’ identities under new Singapore code
Facebook, Instagram, and TikTok must verify advertisers' identities and block unlicensed financial service ads by January 31, 2027, or face fines up to $1 million under Singapore's new Social Media Code.
Intelligence analysis by Llama
Singapore's new Social Media Code requires social media platforms to verify advertisers' identities and block unlicensed financial service ads to prevent scams. Failure to comply may result in fines of up to $1 million.
Imagine you're on social media, and you see an ad that looks too good to be true. That's because scammers are using social media to trick people into giving them money. To stop this, Singapore is making social media platforms check who is behind the ads and block any that are suspicious.
Analysis
New Social Media Code Requirements
Singapore's new Social Media Code requires social media platforms to verify advertisers' identities and block unlicensed financial service ads to prevent scams. This comes as a response to the increasing number of scam cases in Singapore, with Facebook, Instagram, and TikTok accounting for about 30% of total scam cases in 2025.
Impact on Social Media Platforms
Facebook, Instagram, and TikTok must comply with the new requirements by January 31, 2027, or face fines of up to $1 million. The police have stated that these platforms pose the highest scam risk to users in Singapore, with Facebook alone accounting for about 18% of total scam cases here last year.
Measures to Reduce Scam Risks
The new Social Media Code requires social media platforms to take measures to reduce scam risks, such as user consent for unknown contacts. For instance, the platforms must let a user give consent before the person can be added into a chat group or channel by an unknown contact. When users get messages or calls from unknown or suspicious accounts, the platforms have to alert them with warnings that users more information about who is contacting them.
Existing Codes of Practice
The new Social Media Code builds on existing codes issued earlier for online communication services and for e-commerce services under the Online Criminal Harms Act. After those two codes came into effect on June 26, 2024, scam cases on online services dropped by 37% in 2025 from 2024, said the police. However, the police pointed to how scammers have adapted their tactics and are exploiting new technologies and features on online platforms, such as messaging applications, online advertisements, and video conferencing.
Key points
- Facebook, Instagram, and TikTok must verify advertisers' identities and block unlicensed financial service ads by January 31, 2027.
- Failure to comply may result in fines of up to $1 million.
- The new Social Media Code aims to reduce scam cases in Singapore, which have been a significant concern for residents.
- Social media platforms must take measures to reduce scam risks, such as user consent for unknown contacts.
If social media platforms comply with the new code, it could lead to a significant reduction in scam cases in Singapore. This would make the online environment safer for residents and reduce the financial losses caused by scams.
However, scammers are known to adapt quickly to new regulations, and it's possible that they may find ways to circumvent the new code. This could lead to a continued risk of scams on social media platforms.
