Tech Giant Google has recently announced that it will be expanding its rules relating to financial services and products in order to better protect its users from fraud and scams.
Last year September saw Google roll out the first stage of its new financial services policy. This entailed that providers in the United Kingdom will be required to provide documentation that confirms that they’re authorised by the UK Financial Conduct Authority prior to them running ads.
Those same regulations will now be expanded to:
- Taiwan
- Australia
- Singapore
As said by Google:
“As part of the verification process, financial services advertisers in these markets will need to demonstrate that they are authorized by their relevant financial services regulator, and have completed Google’s advertiser verification program in order to begin promoting their products and services. Advertisers will be able to apply for verification at the end of June, and the policy will go into effect on August 30, 2022. Advertisers that have not completed the new verification process by this date will no longer be allowed to promote financial services.”
Google has robust policies in place to prohibit bad actors from deceiving people through certain tactics such as phishing, using clickbait, and providing misleading information about a product, service or business. The newly implemented policy is the company’s latest step in their longstanding effort to tackle online fraud.
