TAIPEI (Taiwan News) — Mega Bank announced Thursday (Nov. 7) that it will pull advertisements and cease marketing operations on social media platforms that do not require users to register with government-issued identification.

The bank also stated it will end collaborations with influencers from these sites, per CNA.

The decision was made in response to the increasing prevalence of financial fraud on social media platforms where users can sign up without providing any form of official identification. Mega Bank pointed to instances where scammers pose as marketers of financial products or as individuals sharing investment experiences.

The bank emphasized that the lack of verification makes it difficult for users to discern legitimate content from fraudulent information. To protect the public and its commercial reputation, Mega Bank outlined the following steps, which will take effect from Thursday through Dec. 31, 2025.

First, Mega Bank will stop all marketing campaigns and advertisements on social media platforms that do not require user identification during registration. Second, the bank will cease cooperating with streamers, hosts, or influencers on such platforms.

Lastly, Mega Bank stressed that only information from its official website and verified social media accounts should be considered legitimate. The bank urged the public to approach information from other sources with caution.

Mega Bank described these actions as a necessary, albeit reluctant, move to protect its reputation and safeguard consumers from potential fraud. The policy has already been adopted by the Land Bank of Taiwan, which is fully state-owned.

Other state-owned banks are considering similar measures, though they are still evaluating their approach. Private banks are also expected to follow Mega Bank's lead, per UDN.