In order to crack down on investment fraud advertisements, the Financial Supervisory Commission today invited the two major platform operators and NCC and other government agencies to jointly discuss the management mechanism.

(Photo by reporter Wang Menglun)

[Reporter Wang Menglun/Taipei Report] The Financial Supervisory Commission and other seven major public sector units and two major platform operators, Google and Taiwan’s Facebook (Meta), met this afternoon (9th) to discuss how to curb online investment fraud advertisements; according to participants at the meeting According to sources, the two major platform operators have agreed to cooperate. As long as the relevant government departments notify, the removal mechanism will be activated. Taking Meta as an example, the advertisement will be removed immediately within 8 to 24 hours.

Online social media has become an important channel for people to obtain information. However, online investment fraud advertisements are also becoming more and more rampant; many celebrities and even government officials have been fraudulently used by criminal groups as advertisements.

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In order to trace the source and reduce the chance of investment fraud advertisements, the Financial Supervisory Commission today invited online community platform operators such as Google and Meta, as well as the National Communications and Communications Commission, the Fair Trade Commission, the Digital Industry Department of the Ministry of Digital Development, the Taiwan Higher Prosecutors Office, and the Ministry of Justice to investigate Bureau and the Criminal Police Bureau of the Ministry of the Interior held a "Discussion Meeting on the Information Management Mechanism of Online Social Media Financial Investment Advertising".

According to the participants, the meeting reached consensus on three major conclusions. The first is the launch of the rapid delisting mechanism; although Google and Facebook have user reporting mechanisms, they have not established a direct notification channel for the government; both platforms have promised to immediately launch the public sector The notification mechanism, as long as it is a false investment advertisement reported by a government unit, it will be quickly removed from the shelves in the shortest possible time.

The second is to strengthen cooperation between the public and private sectors and establish a process for searching and reporting fake investment information.

The Financial Supervisory Commission has established contact windows with the Digital Department, NCC, Fair Association, Higher Prosecutor's Office, Investigation Bureau of the Ministry of Justice, and Criminal Police Bureau to facilitate follow-up contact and coordination.

The third is that relevant ministries and committees have established contact windows with Google and Meta to facilitate subsequent deepening of cooperation and instant communication, and to provide emergency handling mechanisms.

However, the outside world also questioned whether it is possible to take action against the source of fraudulent investment advertisements?

Introduce a "responsibility mechanism" for platform operators?

For example, if online platform operators publish fraudulent investment advertisements, they will be fined. This is the only way to stop them from the source and cure the root cause.

In this regard, an official of the Financial Supervisory Commission said frankly that tracing the source and reducing investment fraud advertisements is the direction we hope to work hard. Although platform operators have a review mechanism for advertising videos, this is often criticized by the outside world for being inaccurate; the key is that there is no legal basis, that is, "Unmanageable".

Officials explained that the source of law for the management and accountability of social networking platforms is the "Digital Intermediary Law." However, due to different opinions from various parties, the draft bill is still blocked. In addition, the Financial Supervisory Commission is not the draft bill. the competent authority.

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