Google to introduce measures to curb online financial scams in UK

Reuters2021-06-30

June 29 (Reuters) - 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.

FCA Chief Executive Nikhil Rathi said last year Google should make checks with regulators to see whether potential advertisers had already been shut down in some other guise, before promotions are posted online.

Bank of England Governor Andrew Bailey has also been lobbying the government to introduce a legal requirement for internet giants to take down financial fraud websites, according to a March report in the Sunday Times.

(Reporting by Ann Maria Shibu in Bengaluru; editing by Jane Wardell)

((AnnMaria.Shibu@thomsonreuters.com; +1 646 223 8780; + 91 80 6749 2795;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

tengcm
2021-06-30
tengcm
Great

Leave a comment

1

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2147893441?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-06-30 09:04","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2147893441","market":"us","top_or_hot":-1,"title":"Google to introduce measures to curb online financial scams in UK","media":"Reuters","content":"<html><body><p>June 29 (Reuters) - 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.</p><p>   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.</p><p>   The FCA did not immediately respond to a request for comment.</p><p>   The watchdog issued 1,200 consumer warnings last year about scams advertised via social media platforms by fake companies, double the amount in 2019.  </p><p>   FCA Chief Executive Nikhil Rathi said last year Google should make checks with regulators to see whether potential advertisers had already been shut down in some other guise, before promotions are posted online.  </p><p>   Bank of England Governor Andrew Bailey has also been lobbying the government to introduce a legal requirement for internet giants to take down financial fraud websites, according to a March report in the Sunday Times.  </p><p> (Reporting by Ann Maria Shibu in Bengaluru; editing by Jane Wardell)</p><p>((AnnMaria.Shibu@thomsonreuters.com; +1 646 223 8780;  + 91 80 6749 2795;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Google to introduce measures to curb online financial scams in UK</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoogle to introduce measures to curb online financial scams in UK\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-30 09:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>June 29 (Reuters) - 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 ...</p>\n\n<a href=\"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GOOGL","symbol_name":"谷歌A","start_time":0,"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2147893441","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2147893441","pubTimestamp":1625015040,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"June 29 (Reuters) - Alphabet Inc's Google    on Wednesday announced measures to clamp down on financ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"GOOGL":"谷歌A","QNETCN":"纳斯达克中美互联网老虎指数","GOOG":"谷歌","09086":"华夏纳指-U","03086":"华夏纳指"},"translate_title":"谷歌将出台措施遏制英国网络金融诈骗","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GOOG":1,"GOOGL":1,"03086":0.6,"09086":0.6,"QNETCN":0.6},"content_text":"June 29 (Reuters) - 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.     FCA Chief Executive Nikhil Rathi said last year Google should make checks with regulators to see whether potential advertisers had already been shut down in some other guise, before promotions are posted online.     Bank of England Governor Andrew Bailey has also been lobbying the government to introduce a legal requirement for internet giants to take down financial fraud websites, according to a March report in the Sunday Times.   (Reporting by Ann Maria Shibu in Bengaluru; editing by Jane Wardell)((AnnMaria.Shibu@thomsonreuters.com; +1 646 223 8780;  + 91 80 6749 2795;))","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":153586133,"gmtCreate":1625035014122,"gmtModify":1703850610946,"author":{"id":"3584485682417508","authorId":"3584485682417508","name":"tengcm","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3584485682417508","idStr":"3584485682417508"},"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/153586133","repostId":2147893441,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":0,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2147893441"}