Starling Bank boycotts Facebook and Instagram advertising – AltFi

Digital Banking The CEO of neobank Starling has pulled ads from Facebook and Instagram in a stinging attack on its policies toward checks on financial fraud. Image source: Anne Boden/Starling BankThe CEO of Starling Bank Anne Boden has pulled all paid advertising from Facebook and Instagram owing to concerns over financial scams. Boden, writing in a blog post last week, said until the social media giant Meta, the recently rebranded – owner of Facebook and Instagram  – addresses fraudulent adverts it will cease to use it as a customer acquisition channel.  “It cannot be right that these platforms profit from crime and yet remain beyond the reach of law,” she said. “We want to protect our customers and our brand integrity. And we can no longer pay to advertise on a platform alongside scammers who are going after the savings of our customers and those of other banks,” she added. Big tech rival Google said it would not be accepting financial services advertisements from firms that did not prove they are authorised by the UK’s Financial Conduct Authority (FCA) or unless they qualified for certain limited exemptions as in July of 2021. Boden says she welcomes the move and says…
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