The Singapore Police Force has set new requirements for Facebook, Instagram and TikTok on advertising for financial services, according to Finance Magnates, which reported on 19 August 2026. The requirements were announced on 18 August under the Online Criminal Harms Act.
What was announced
The platforms must block financial-services ads that reach Singapore users from advertisers without local authorisation. The advertiser needs a licence from the Monetary Authority of Singapore or another applicable authority, or must be authorised by a licensed entity. According to the report, being incorporated overseas does not settle the question.
The code applies to paid content and covers brand owners, merchants, agencies, influencers and affiliate marketers who help create, target, fund or distribute an ad. Platforms are also expected to review ads before they run, check for URL cloaking, monitor embedded links, verify advertisers against government records, remove suspected scam ads promptly, act on user reports within 24 hours, keep certain account data for at least 90 days and file an annual implementation report. The deadline is 31 January 2027.
The article says existing penalties for ignoring a rectification notice include a fine of up to S$1 million. Higher penalties of up to S$10 million are proposed in an amendment that has been introduced in Parliament but is not yet in force. Police data cited there show social media accounted for about 30% of reported scam cases in 2025.
Why it matters for traders
Many retail traders first meet a broker or a "trading signal" group through social media adverts. Placing responsibility on platforms is intended to cut off unlicensed offers before they reach users. The rules are not yet fully in force, and enforcement results will only be visible later, so ads remain something to treat with care.
What to check
- Whether the advertised firm appears on the regulator's financial institutions directory.
- Whether the ad promises returns or urges quick deposits.
- Whether the link leads to the firm's genuine domain.
Sources
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