Taiwan’s Ministry of Digital Affairs (MODA) announced yesterday that it will officially place Threads, a text-based social media app, under its anti-fraud regulatory framework, with the measures taking effect on Sept. 15.
Considering the online platform’s number of users in Taiwan and risk of it being used to publish fraudulent advertisements, Threads has been included under regulatory management, making it the seventh online advertising platform regulated under Taiwan’s anti-fraud law, the ministry said.
After the “Fraud Crime Hazard Prevention Act” was promulgated on July 31, 2024, MODA later that year ordered four major online platform operators: Meta, Line, TikTok, and Google to implement stronger anti-fraud measures in accordance with the law.
Photo:CNA
This requirement applies to six major platforms: Google, Youtube, Line, Facebook, Instagram and TikTok operated by the four companies.
With the addition of Threads, launched on July 5, 2023 by Meta, a total of seven platforms will have been brought under the new anti-fraud regulations.
The new law requires these platforms to verify advertisers, develop anti-fraud strategies, and promptly remove fraudulent content upon request. They must also publish transparency reports detailing their efforts at combating online fraud.
Threads’ inclusion under the regulatory management provisions came after several lawmakers recently expressed concern about the large user base of Threads in Taiwan and noted that it had not yet been regulated under the anti-fraud regulations.
In response, MODA launched a review to determine whether Threads should be included.
According to a statement released by MODA on Thursday, from Sept. 30 last year, its online scam reporting system received 1,898 reports involving suspected fraud on Threads, of which 718 were confirmed scams. As a result, the platform was notified and instructed to remove the fraudulent content.
Threads began offering advertising placements in April this year, thus meeting the definition of an online advertising platform, MODA said in the statement.
Given that the platform has a substantial user base in Taiwan and based on the number of fraud-related reports, MODA assessed that the risk of Threads being used to publish fraudulent ads is high, it said.
As a result, Threads was added to the regulated platforms list. Due to the time needed for system adjustments, compliance requirements will take effect on Sept. 15, according to the MODA statement.
In response, Threads’ parent company Meta said in a statement that it is currently reviewing relevant details regarding the inclusion of Threads under the anti-fraud rules.
“We are fully committed to combating fraud and criminal networks targeting users of online services,” Meta said.
It added that the company is strengthening its anti-fraud efforts through various measures, including investing in technology, alerting users to potential scams, providing anti- fraud tools, promoting public fraud awareness education and working closely with Taiwan’s MODA.
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