Google to introduce measures to curb online financial scams in UK

Alphabet Inc’s Google on Wednesday announced measures to clamp down on financial fraud on its platform in Britain, saying it will require all financial services to be verified by the regulator before they are allowed to advertise.

Google said in a blog post it will begin enforcing the new policy, which follows calls from the Financial Conduct Authority for the U.S. tech giant to vet paid promotions, from Sept. 6.

The FCA did not immediately respond to a request for comment.

The watchdog issued 1,200 consumer warnings last year about scams advertised via social media platforms by fake companies, double the amount in 2019.