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Google cracks down on scam adverts
The new measures are due to come into place from September 6 following pressure from the FCA
30 June 2021 • 12:05am
Google will crack down on scam advertisements following pressure from the FCA, and require all financial services to verify their identity with the City’s regulator before promoting on the platform.
The online giant said the new measures would come into place from September 6, while advertisers must prove their authorisation by the FCA (Financial Conduct Authority) beforehand.
It comes after the City watchdog earlier this month warned it will take legal action against Google and social media firms if they continued to post advertisements for online financial scams. The FCA said it last year issued some 1,200 warnings online about fraudulent and fake adverts on Google and social media platforms.