Google Aids The Fight Against Financial Fraud

Author:Giambrone Law ILP
Profession:Giambrone
 
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Google has given notice that from June 2018 any advertisers who wish to advertise services involving Contracts for Difference, rolling spot forex and financial spread betting, will need to apply to Google for certification before they can advertise through Adwords. Furthermore, Google is banning certain advertisements altogether with immediate effect. Such adverts for binary options and synonymous products will not be accepted. Nor will crypto-currencies and any related content, including initial coin offerings, crypto-currency exchange, crypto-currency wallets, and also crypto-currency trading advice be accepted in the future. Google points out that this policy is not limited to those activities and products listed.

Google's new policy does not just prohibit advertisements which arise from those dealing directly with the restricted products which Google now declines to advertise but also their affiliates and aggregators will also be prevented from serving Contracts for Difference, rolling spot forex, financial spread betting as well as binary options and synonymous products together with crypto-currencies and any related content.

The clear objective of Google's robust steps is to prevent an advertiser who wishes to use Google Adwords to promote their business from being able to perpetrate a widespread fraud through Google's extensive platform. However, at the same time legitimate brokers and financial businesses who do not have this objective, can apply to be approved through certification and take advantage of, not only of the vast reach of Google but by association and through the procedures Google is now putting in place, they will be perceived by their customers as sound legitimate establishments that can be trusted.

Google's move to screen financial businesses and brokers offering the types of products listed above is to be applauded, any steps to prevent the...

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