Google will clamp down on financial fraud on its platform in Britain, saying on Wednesday that all financial services will need to be verified by the regulator before they can advertise.
Britain’s financial watchdog issued 1,200 consumer warnings last year about scams advertised via social media platforms by fake companies, double the number in 2019.
Google, which is part of U.S. tech giant Alphabet Inc , said in a blog post it will begin enforcing the new policy, which follows calls from the Financial Conduct Authority (FCA) to vet paid promotions, from Sept. 6.
“While this is an important step from Google we think a permanent and consistent solution requires legislation,” an FCA spokesperson said in emailed statement.
The regulator will assess the outcome of Google’s decision once the changes take effect, the spokesperson added.
Bank of England Governor Andrew Bailey has been lobbying the government to introduce a legal requirement for internet giants to take down financial fraud websites, the Sunday Times reported in March.
Photo: file photo by EPA/DANIEL DEME
Gulf states have backed a proposal aimed at reducing disruption to global oil trade by allowing Iran to collect voluntary fees from ships using the Strait of Hormuz, according to sources...
The United States has launched a review of its military presence in Europe, a move aimed at shifting greater responsibility for conventional defence onto European NATO allies. The decisi...
Updated 0850
Parliament begins Summer Recess After Approving Two Bills Linked to EU funds: Parliament rose for its summer recess on Monday after MPs approved two Bills tied to Malta's...
Updated 1105
Abela defends equality reforms as Borg says PN walk-out gave ‘voice to the voiceless’: Prime Minister Robert Abela defended the government’s Equality Bill after the Oppos...
The European Commission has unveiled an ambitious package of tax reforms aimed at simplifying tax rules across the European Union, reducing compliance burdens for businesses and strength...
The European Union's new Migration and Asylum Pact enters into force on 12 June, ushering in the most significant reform of the bloc's migration framework in years and placing renewed em...
FinanceMalta is exploring new opportunities to strengthen Malta’s presence in the United States, following enhanced connectivity between the two countries and growing interest in interna...
GO Ventures, the corporate venture capital arm of GO plc, has invested in Jericho Security, a New York-based cybersecurity company developing artificial intelligence tools to help organi...
FinanceMalta is exploring new opportunities to strengthen Malta’s presence in the United States, following enhanced connectivity between the two countries and growing interest in interna...
The European Parliament has approved a major new initiative aimed at reducing workplace accidents and strengthening worker protection across the European Union, as concerns continue to g...
FinanceMalta is exploring new opportunities to strengthen Malta’s presence in the United States, following enhanced connectivity between the two countries and growing interest in interna...
GO Ventures, the corporate venture capital arm of GO plc, has invested in Jericho Security, a New York-based cybersecurity company developing artificial intelligence tools to help organi...
Gulf states have backed a proposal aimed at reducing disruption to global oil trade by allowing Iran to collect voluntary fees from ships using the Strait of Hormuz, according to sources...
The United States and Iran have paused military strikes for a third consecutive night as both sides seek to give diplomacy another opportunity after nearly two weeks of escalating confli...
At least 32 people have been killed and more than 700 injured after two powerful earthquakes — measuring 7.2 and 7.5 — struck central Venezuela seconds apart, causing widespread destruct...
Thousands of Cuban security personnel have begun leaving Caracas after nearly two decades in Venezuela, as Washington ramps up efforts to dismantle the long standing alliance between the...
Ukraine is aiming to develop a prototype of a new European anti-ballistic missile defence system by the first half of 2027, as Kyiv pushes allies to create a home-grown alternative to US...
Ukraine has recaptured 700 sq km (270 sq miles) of its territory this year, outgoing Commander in Chief Oleksandr Syrskyi said on Wednesday, confirming he was leaving the top military ...
