In a move aiming to help avoid scammers on the platform, providers of any financial services in the UK will be required to be verified by Google before being able to advertise using their platform. In a recent announcement, Google commented “As part of the verification process, advertisers must demonstrate that they are authorized by the UK Financial Conduct Authority or qualify for one of the exemptions described in the UK Financial Services verification page”. There are some that will not have to comply with this new rule such as Cryptocurrencies, Gambling, and Debt Services adverts as, under the new policy those “will not be considered financial services for the purposes of this policy”.
As part of their continued work to protect users, advertisers and publishers, users will be required to follow a two-step verification process starting with obtaining UK Financial Conduct Authority Authorisation, followed by submitting Advertiser Identity Verification documents along the FCA authorisation to Google.
Google UK & Ireland’s VP & MD Ronan Harris explains in more detail in a recent blog post how this process will work and the timescales, including;
- The policy will be updated on August 30, 2021, and enforcement will begin seven days later, on September 6, 2021.
- Advertisers must successfully complete the updated verification process by the time enforcement begins in order to show financial services ads to UK users. This will include showing ads to UK users who appear to be seeking financial services.
For any accounts that are found to not be following the rules, you’ll first receive a warning and will have up to 7 days to fix the issue before your account is suspended.
Are you providing financial services and are unsure what you need to do? As well as being digital experts, our Digital Marketing team are also Google Partners, meaning Google will regularly review our client accounts to ensure that we are delivering the best possible service, including how often we make changes to accounts and whether we’re making the most of our clients’ budgets – so you know your account will be in safe hands with us.
Get in touch with us via firstname.lastname@example.org or by picking up the phone and dialling 0333 2200 555 and selecting option 5 and we can help ensure you are well-placed with your advertising and marketing.