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Google has announced to introduce new guidelines for its own advertising platform Adwords. The group is forced to take this step by using false and misleading ads played over its network. Scott Spencer, Director of Sustainable Ads at Google, wrote in a blog post that the search engine blocks 100 ads every second that violate their policies. In total, around 3.2 million different ads were removed last year that violate Google’s advertising requirements. Details can be found in the annual “
Google follows Facebook
Now, the group has announced that it will block all advertisements related to cryptocurrencies and initial coin offerings (ICO) from its network. In January, Facebook has already announced a similar measure. The social network has justified the step by saying that the proportion of fraudulent ads in this area is particularly high. The Group wants to protect its customers from fraudsters as well as the high risks of legitimate offers.
The tightening of the financial product provision on Google includes cryptocurrencies, wallets, trading platforms and trading training, as well as initial coin offerings. Since no weighing takes place, the ban also applies to reputable providers who can no longer book advertising via Google’s ad server. In addition to the crypto sector, ads for other financial products such as Contracts for Difference, Rolling Spot Forex, Financial Spread Betting and Binary Options are also affected, which may no longer be promoted.
Google justifies this step similar to Facebook before. The Group warns that dubious businesses are often advertised in this area and consumers must therefore proceed with considerable caution. Exceptions are only made in the areas of Contracts for Difference, Rolling Spot Forex and Financial Spread Forex. In some countries, providers can get certified and then advertise again through Google. To obtain a license, a company must be licensed by the country’s financial regulator and the advertised services and products must follow the laws.
For Google as well as for Facebook, advertising revenue is the most important source of revenue. Google generated about 84 percent of its worldwide sales through advertising last year. The trust of visitors and advertisers in the advertising networks is therefore of great economic importance for both companies.