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 exploitation of individuals via the internet will be seen as positive and will assist with the on-going battle against financial fraud which Giambrone has always been pleased to be at the forefront. Far too many people are being deceived into parting with, sometimes significant sums of money, by unscrupulous brokers who choose their targets for their inexperience, something that legitimate brokers are not permitted to do. Giambrone has had substantial success in recovering money on behalf of defrauded clients and has been instrumental in assisting law enforcement agencies throughout the world, including the FBI and Action Fraud. Investment fraud is a huge problem. According to Action Fraud's website every year £1.2 billion is lost in the UK to investment fraud.
One of the common features of internet-based investment fraud is the praying on people's desire to emulate the success of professional traders; the perceived glamorous lifestyle is extremely seductive. However, for most people living the dream is short lived and the abrupt realisation that they have been deceived is a hard pill to swallow.
The pernicious effect of financial fraud does more than simply impoverish the victims it frequently destroys their reputation and their confidence. So every little that is undertaken to prevent or make difficult an attempt to defraud the susceptible novice trader is extremely welcome. It is to be hoped that other platforms will follow where Google leads.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.