Meta Platforms Faces Regulatory Pressure in Singapore Over Facebook Scams

Meta Platforms (META) shares dipped as Singapore's government threatened fines nearing $1 million for inadequate action against impersonation scams on Facebook. Authorities demand facial recognition and other measures by month-end to curb fraudulent activities exploiting public figures' images.

The Ministry of Home Affairs reported a surge in scam cases between June 2024 and June 2025, with offenders creating fake ads and profiles using officials' likenesses. While Meta has implemented global anti-scam efforts, Singapore insists on stronger localized protections.

This marks the first enforcement action under Singapore's Online Criminal Harms legislation, signaling tightening scrutiny of social media platforms' accountability for financial crimes facilitated through their networks.