Google today announced the upcoming U.S. rollout of a verification program for financial services ads appearing on its platform, with the company using an American Bankers Association registry to ensure ads come from legitimate banks.
Starting early next year, Google will expand its Financial Services Verification program to the U.S. and Canadian markets, according to a company blog post. Financial services firms wanting to advertise on Google will need to seek verification through the program, which is currently in place in 42 countries.
Google will use an ABA registry to verify authorized banks before ads run in the U.S. The company is working with the Canadian Bankers Association on a similar effort there.
ABA has long called on social media companies and other online platform providers to verify advertisers’ identity and implement systems to detect fraudulent ads. In a statement, Paul Benda, EVP for risk, fraud and cybersecurity at ABA, called Google’s announcement an important step toward preventing bad actors from impersonating banks and scamming Americans out of their hard-earned money.
“We have worked closely with Google to develop the protocols needed to verify legitimate bank advertisers, and we look forward to seeing the system in operation in the coming months,” Benda said. “We will continue to encourage technology and social media companies to partner with America’s banks to protect consumers from fraud and scams.”
