Google is taking steps to curb online scam after an investigation by The Times
Posted: Wed Nov 13, 2019 4:00 am
Scammers are paying Google tens of millions of dollars to promote high risk or even openly fraudulent investment schemes, an investigation by the Times reveals.
Google said it will launch a thorough investigation on the allegations and will double check all financial websites that are allowed to use its ads service.
Many of the websites in question claim to be licensed and authorized by the Financial Conduct Authority (FCA) in the UK or by some other official financial regulator, as well as to participate in a client compensation schemes.
Some simply use the logos of official financial watchdogs, or links, misleadingly linking them to reputable organizations.
Another technique employed by scammers is that thy use key words like “secure”, “safe” and “low - risk” to facilitate the Google search, and to convince potential customers that their funds will be in safe hands.
Google said it will launch a thorough investigation on the allegations and will double check all financial websites that are allowed to use its ads service.
Many of the websites in question claim to be licensed and authorized by the Financial Conduct Authority (FCA) in the UK or by some other official financial regulator, as well as to participate in a client compensation schemes.
Some simply use the logos of official financial watchdogs, or links, misleadingly linking them to reputable organizations.
Another technique employed by scammers is that thy use key words like “secure”, “safe” and “low - risk” to facilitate the Google search, and to convince potential customers that their funds will be in safe hands.
