In the UK, where the verification program for financial services ads was launched last summer, there has been a decline in the number of reports of financial scam ads.
Australia, Singapore and Taiwan are the first countries to get the requirement. The verification requirements for advertisers will be expanded in the coming months.
The verification layer is on top of the financial products and services policy, looping in a local financial regulator which advertisers must demonstrate they are authorized by in order to have their financial services ads accepted by Google.
The Financial Conduct Authority in the UK regulates financial services advertisers. There will be similar oversight bodies in the new markets.
Advertisers who want to promote financial products and services in these markets will be able to apply for verification at the end of June, with the policy going into effect on August 30, 2022.
Advertisers that have not completed the verification process by this date will not be allowed to promote financial services.
Partnering and collaborating with government regulators is critical to our success, and we work hard to make sure the ads we serve are safe and trustworthy. He said that they were coordinating with regulators in the three markets to make sure the program worked.
There is no data to back up the claim that the policy change has led to a decline in reports of financial scam ads.
Prior to the launch of the financial ads verification policy in the UK, the FCA had threatened legal action against the company if they continued to accept unscreened financial ads.
Google tightens UK policy on financial ads after watchdog pressure over scams
A hard rain is coming for UK’s crypto boom
All Rights Reserved © 2024
