Financial services

Google expands ad verification for financial services

To combat advertising fraud, Google has expanded its verification program for financial services advertisers to new countries and markets.

“This measure creates a new layer of security against fraudsters and will help further protect our network from financial scams,” the search giant said on its blog Thursday, June 9.

Google says it first launched the scheme in September last year in the UK, which already requires advertisers to prove they have obtained approval from that country’s Financial Conduct Authority.

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Since then, the company says it has seen a sharp drop in reports of ads promoting financial scams, which Google says has given the company “the confidence to expand verification to other countries.”

The policy will be launched in phases, starting with Australia, Singapore and Taiwan, where financial services advertisers will need to prove they are licensed by their relevant financial services regulator and have completed the verification program Google advertisers.

Advertisers will be able to request verification at the end of this month, with the policy due to take effect on August 30.

Learn more: Meta, Google agrees to UK ads rule; Will Twitter follow?

In April, Google and Facebook owner Meta pledged to only allow registered financial companies to advertise promotions on their UK sites.

The move follows the unveiling in March of new provisions in the UK’s Online Safety Bill that will require platforms such as Meta, TikTok and Twitter, as well as Google and other search engines, to prevent fraudulent advertisements. paid to appear on their sites.

“We want to protect people from online scams and have heard calls to strengthen our new internet safety laws. These changes to the upcoming Online Safety Bill will help prevent fraudsters from scamming people out of their hard-earned money using fake online adverts,” UK Culture Secretary Nadine Dorries said in a statement. a statement.

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