July 2, 2021

Google will crackdown on financial fraud on its U.K. platform.

Last year, the U.K.’s Financial Conduct Authority issued 1,200 warnings from consumers about scams promoted by fake companies on social media platforms – a 100% increase on the previous year’s warnings.

Google announced that beginning September 6, all financial services will have to be reviewed by the regulator before they can be advertised.

Google will begin enforcing the new guidelines after the Financial Conduct Authority (FCA) to review paid promotions.

The regulator will assess the outcome of Google’s decision when the changes take effect.

For more information, read the original story in Reuters.