Google Expands Verification for Financial Services Ads

In an effort to combat fraud in advertising, 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 safeguard our network from financial scams,” the search giant said on its blog Thursday (June 9).

Google says it first launched the program in September of last year in the U.K., which already mandates that advertisers can show they’ve gotten approval from that country’s Financial Conduct Authority.

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Since then, the company says it’s seen a sharp decline in reports of ads that promote financial scams, which Google says has given the company “the confidence to expand verification to additional countries.”

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

Advertisers will be able to apply for verification at the end of this month, with the policy set to go into effect on Aug. 30.

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In April, Google and Facebook owner Meta pledged to permit only registered financial firms to advertise promotions on their sites in the U.K.

That move followed March’s unveiling of new provisions to the U.K. Online Safety Bill that will require platforms like Meta, TikTok and Twitter, along with Google and other search engines keep paid fraudulent adverts from appearing on their sites.

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