Google will soon require the verification of financial services firms if they wish to advertise across its web platform in what it says is a move to tackle fraud.

In an email sent to advertisers, Google says that each firm will need FCA authorisation or qualify for an exemption, such as advertisers whose adverts are approved by an FCA-authorised firm, or adverts that only target a financial services audience without providing related services.

Google states that a full policy update will be published on 30 August and that the new terms will come into force seven days after that. Any firm that doesn’t complete the process will no longer be able to advertise in the UK or to people in the UK.

This covers both regulated and non-regulated firms.

The note from Google also explains that several finance-related categories are not considered financial services for the purpose of this policy, which includes debt services, complex speculative products – such as spread betting and rolling spot forex – gambling, binary options, and cryptocurrencies.

Google UK and Ireland vice president and managing director Ronan Harris says: “Today’s announcement reflects significant progress in delivering a safer experience for users, publishers and advertisers.

“While we understand that this policy update will impact a range of advertisers in the financial services space, our utmost priority is to keep users safe on our platforms — particularly in an area so disproportionately targeted by fraudsters.”