Tech giant Google have announced that financial service advertisers will need to get authorisation from the Australian Services and Investment Commission (ASIC) before they can reach out to local audiences.
This measure is yet another update in the company’s privacy policies being put in place to protect their client’s data from fraudsters.
“Combating financial fraud in advertising is a top priority. And to do our part in this cross-industry effort, we’re constantly developing new tools and policies that help better protect the people who use our products and our advertising partners from bad actors,” the company’s announcement pointed out.
The verification program, which was initially launched in the UK with great success, contributing towards a significant drop in financial scams, will require financial service providers to prove that they have been given the “green light” by ASIC to promote their services in the country.
Companies will have the chance to apply for verification at the end of June, with the change in policies going into full effect on August 30th.
Google have been known to take privacy data very seriously, taking down nearly 60 million ads from their various platforms last year alone for violating their policies regarding financial services.
The company also launched a new advertiser verification program a couple of years ago (2020), asking advertisers to provide information on their business before giving them the opportunity to use their platforms. This new feature is now available in over 180, helping people better understand who’s behind all the adds that they see.
