Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. United States
  4. Nasdaq
  5. Alphabet Inc.
  6. News
  7. Summary
    GOOGL   US02079K3059


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Britain warns social media firms over 'dodgy' financial ads

09/28/2021 | 10:13am EDT
Social network words and social media logos are seen through magnifier displayed in this illustration taken

LONDON (Reuters) -Social media firms face action if they do not do more to prevent ads for "dodgy financial promotions" that are fuelling a surge in fraud, Britain's Financial Conduct Authority said on Tuesday.

Financial scams have rocketed in recent years, especially during the coronavirus pandemic, as more consumers shop online and try digital banking and investing.

UK Finance, a lobby group representing banks, has described fraud as a "national security threat", with the FCA saying that consumers lost nearly 570 million pounds to investment scams in the 12 months to April.

"We are putting them on notice that we expect them to be involved in this process of protecting the community," the FCA's head of enforcement Mark Steward told its annual meeting.

The big tech firms have said they are investing in fraud prevention and collaborating with the government and regulators.

Steward gave no specific examples of the adverts "feeding social media with dodgy financial promotions".

Google this month prohibited investment ads that are not FCA-authorised, including for gold and cryptocurrencies.

Steward said the FCA was pleased by this action, which he said added was "having an impact already in curtailing the increase in suspicious financial promotions on Google searches".

"We are talking to all social media firms about this and it's important that all of them change their processes and procedures otherwise we will have to take action," he added.

Steward said that it was too easy for perpetrators to hide their identity and be located anywhere in the world.

"This is why the gateway through social media needs to be regulated," he said.

The FCA has asked the government to include advertisements in its planned Online Harms Bill to help tackle scams.

"There is something systemically and fundamentally that needs to be fixed in order to create a safer environment for consumers to operate," Steward said.

(Reporting by Huw Jones; Editing by Catherine Evans, Alison Williams and Alexander Smith)

By Huw Jones

ę Reuters 2021
All news about ALPHABET INC.
05:19pUS Stocks Drop With Crude Oil, Bond Yields; Microsoft, Alphabet Buoy Nasdaq
05:17pCLOSE UPDATE : US Stocks Drop With Crude Oil, Bond Yields; Microsoft, Alphabet Buoy Nasdaq
05:16pTech Up After Google Earnings -- Tech Roundup
04:26pCyclicals drag S&P 500 lower; Microsoft, Alphabet keep Nasdaq flat
04:02pNasdaq flat on Microsoft, Alphabet lift, cyclicals weigh on S&P 500
03:55pAlphabet Poised for Durable Free Cash Flow Growth After Strong Q3 as Innovation Drives ..
03:45pSOCIAL BUZZ : Tesla, Robinhood Most Mentioned Stocks on Wallstreetbets, Digital World Rebo..
02:56pMicrosoft, Alphabet lift Nasdaq but cyclicals weigh on S&P 500
02:06pU.S. senators call for passing laws to protect online privacy for kids
01:25pEquities Mixed Midday as Tech Giants Keep Nasdaq Higher Amid Weaker US Currency
More news
Analyst Recommendations on ALPHABET INC.
More recommendations
Financials (USD)
Sales 2021 254 B - -
Net income 2021 72 396 M - -
Net cash 2021 145 B - -
P/E ratio 2021 27,4x
Yield 2021 -
Capitalization 1 945 B 1 945 B -
EV / Sales 2021 7,09x
EV / Sales 2022 5,98x
Nbr of Employees 144 056
Free-Float 93,1%
Duration : Period :
Alphabet Inc. Technical Analysis Chart | GOOGL | US02079K3059 | MarketScreener
Technical analysis trends ALPHABET INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 46
Last Close Price 2 924,35 $
Average target price 3 301,54 $
Spread / Average Target 12,9%
EPS Revisions
Managers and Directors
Sundar Pichai Chief Executive Officer & Director
Ruth M. Porat Chief Financial Officer & Senior Vice President
John LeRoy Hennessy Chairman
Louis John Doerr Independent Director
Ann Mather Independent Director
Sector and Competitors
1st jan.Capi. (M$)
ALPHABET INC.66.85%1 860 020
BAIDU, INC.-21.92%58 763
YANDEX N.V.9.61%27 338
SOGOU INC.9.82%3 471