Google cracks down on financial-scam adverts

Google is cracking down on financial-scam advertisements in the UK.

From 30 August, any company advertising financial services on the search engine must be authorised by the Financial Conduct Authority.

Last year, the FCA issued 1,200 consumer warnings about scams advertised by fake companies through social-media platforms.

Google’s latest move was a “significant step”, it said, but a permanent solution may be required by law.

Google UK and Ireland managing director Ronan Harris said, external: “Today’s announcement reflects significant progress in delivering a safer experience for users, publishers and advertisers.

“While we understand that this policy update will impact a range of advertisers in the financial services space, our utmost priority is to keep users safe on our platforms.”

Cryptocurrency adverts are already regulated and only FCA-registered exchanges can advertise.