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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. ....
Firms will no longer be allowed to push financial products in the UK on Google unless they have been authorised by the FCA Google is to crack down on adverts for sham investment schemes after the problem was highlighted by the Daily Mail. As part of our Stamp Out Investment Fraud campaign, we exposed how crooks snare victims by pretending to be established firms. In some cases they advertise on Google without proving who they are, to the alarm of regulators and companies that had their identities ‘cloned’. RELATED ARTICLES ....
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