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Introducing New Verification Requirements for Certain Financial Services Advertisers
On 30 August 2022, Google will update its financial products and services policy to introduce new verification requirements for advertisers targeting Australia, Singapore and Taiwan. Advertisers that have not successfully completed the new verification process by 30 August 2022 will no longer be allowed to show financial services ads in Australia, Singapore and Taiwan, respectively. Google previously introduced financial services verification for financial services ads in the UK.
In order to advertise financial services, advertisers must (1) obtain third party verification through our external compliance partner, G2, and then (2) apply for financial services verification with Google. As part of G2’s third party verification process, G2 will ask advertisers about the type of financial services that they provide, whether they are licensed to provide those services and their registration number, among other things. Advertisers must demonstrate that the relevant national financial services regulator directly authorises them to undertake financial services activities or that they are exempt from that requirement. Once third party verified by G2, advertisers will need to apply to Google for financial services verification using the unique third party verification code they receive from G2. Our compliance partner, G2, will begin processing applications on 27 June 2022.
To learn more about the new Financial Services verification requirements and initiate verification, please follow the below links.
Please review this policy update to determine whether or not any of your ads fall in scope of the policy, and if so, initiate and complete verification or remove those ads before enforcement begins.
Violations of this policy will not lead to immediate account suspension without prior warning. A warning will be issued, at least seven days, prior to any suspension of your account. Learn more about suspended accounts here.
(Posted on 27 June 2022)