Google is planning to expand the use of the Verification Program for financial-related advertising. Marketers who want to promote or advertise services related to finance will need to pass identity verification through this Verification Program before they can advertise.
This Verification Program adds another layer of protection against advertising fraud and helps people feel confident that they won’t be deceived when clicking ads in Google’s network. In fact, those who follow the news have probably seen these updates already, as Google first launched the Verification Program in the United Kingdom in September 2021. The results were a clear reduction in advertising fraud. Therefore, Google will begin expanding this feature to other countries. This article will introduce marketers to the Verification Program and how it will affect their advertising. If you’re ready, let’s take a look.
What is the Advertiser Verification Program?
If you go to the Advertising Policy Help page, you’ll find that Google defines the meaning of the Verification Program as “a program to verify advertisers that combines identity verification and Business Operation verification into a single step.” It consists of several steps that advertisers must follow and complete if they want to advertise. Advertisers must provide basic information about business data that can be verified and have 60 days to complete the verification process. Once Google checks, advertisers will receive an email notification of the verification result.
Financial Fraud Problems
For Financial Fraud, or financial scams, it is something that internet users are most likely to fall victim to. There is a report from the police in Singapore stating that from January to December in 2021, Financial Scam problems amounted to as high as $365,000 US dollars. In addition, according to a Google report, in 2021 alone, more than 58.9 million ads violating Financial Service Policies were blocked or removed.
According to a report from The Times, a famous publisher from England, the U.K. Bank TSB commented on Google’s Verification Program policy, saying that “since the launch of the policy of verifying identity before advertising services related to financial services, it has greatly reduced fraudulent advertising.”
How does this Verification Program affect marketers?
This Verification Program will be expanded to Australia, Singapore, and Taiwan. Marketers who want to advertise about finance in these three countries must go through two steps before they can advertise services related to finance:
This policy will take effect on August 30th, and marketers can start the Verification Program process as early as the end of June. So, marketers who are currently holding advertising campaigns related to finance should remember to verify their identity to avoid problems and wasted time later. Google also stated that they plan to gradually expand identity verification to other regions in the coming months.
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