Weibo intensifies crackdown on illegal marketing activities

03/10/2023 12:38 • Metaverse Matters • 88 views

It is reported that the official announcement of microblog said that illegal marketing information such as illegal securities, futures, virtual currency trading activities and diversion to QQ group, WeChat group, official account and other off-site platforms through microblog, blog, private messages and other means should be handled centrally. According to the relevant regulations, according to the seriousness of the case, the following measures shall be taken: delete the content, prohibit the private message function, reduce the right of the content, ban the speech, and even cancel the account. A total of 131 accounts were disposed this time. In accordance with the Securities Law and other laws and regulations and relevant provisions, Weibo has continuously upgraded its technical means, adjusted its product strategy, optimized its monitoring and processing efficiency, continuously increased its efforts to crack down on illegal securities activities on the platform, and strictly dealt with relevant violations and regulations, and will never tolerate them.

Weibo official: disposed of 131 illegal securities and futures activities and illegal marketing accounts

Analysis based on this information:

In a recent announcement, Weibo, the popular Chinese microblogging platform, has stated its intention to take more stringent measures in dealing with illegal marketing activities. The platform has observed a significant increase in the dissemination of illicit securities and futures trading information, virtual currency trading activities, and advertisements on microblogs, blogs, and private messaging, diverting users to off-site platforms such as QQ and WeChat groups, and other official accounts.

According to the regulations in place and the gravity of the offense, Weibo will take various actions, including but not limited to deleting content, restricting private message functions, reducing the accessibility of the content, disabling user accounts or even banning speech on the platform. The recent crackdown has so far resulted in the disposal of 131 accounts.

Weibo has emphasized its commitment to upholding the Securities Law and other relevant regulations, and has implemented various measures to monitor and handle illegal activities on the platform efficiently. The platform has continuously upgraded its technical means, adjusted its product strategy and optimized its monitoring and processing capabilities to detect and crack down on illicit activities. Weibo stressed that it would not tolerate illegal marketing activities and will ensure strict compliance with regulations and laws.

The announcement by Weibo comes amid growing concerns over the use of social media platforms for promoting financial products without appropriate regulatory oversight. There have been several instances of scams, frauds, and Ponzi schemes being promoted on social media in China in recent years. The Chinese government has been clamping down on such activities, and platforms like Weibo are playing a key role in curbing them.

In conclusion, the recent Weibo announcement indicates a firm stance of the company towards regulating illicit marketing activities on its platform. The platform has demonstrated its preparedness to crack down on such activities and ensure compliance with relevant laws and regulations. Social media platforms have a vital role to play in preventing fraudulent investment promotions, and Weibo’s measures set a precedent for other platforms to follow.

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