General Insurance Article - Google UKs plans to clamp down on scam promotions

Commenting on Google UK’s plans to clamp down on scam promotions, Tommy Burns, Risk and Financial Crime Manager at Phoenix Group, said:

 “It’s good to see Google taking steps and updating its policy to help prevent financial scams on its platform. The number of scams reported has increased in the last year, and online scams have been particularly rife. In the last 12 months, almost a fifth (17%) of UK consumers have been caught by an online scam, rising to 29% among 18-34 year olds. Fraudsters have increasingly seized the opportunity to target victims on search engines and social media, developing new techniques that suit these platforms such as fake promotions and products.
 “With an increasing number of people looking for financial information on Google and other search engines, and platforms such as Instagram, YouTube, TikTok and Facebook, it’s really important that these companies provide a safe and secure environment for users, and that information and adverts are verified and credible. Our research shows that consumers believe that online platforms and social media providers should take some responsibility (46%), so Google’s announcement is a step in the right direction, and we hope others follow their lead.”
 “As online scams are an evolving threat, we would urge the Government to reconsider including scams as part of the draft Online Safety Bill.”

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