Google ads claiming student loan bailouts, more than 10% are fraudulent–some sites look like government agencies–CNET Japan

A non-profit watchdog said that more than 10% of Google ads claiming student loan bailouts were selling fake services that didn’t actually lead to bailouts.Tech Transparency ProjectIt was revealed in a report released by (TTP) on July 13, US time.

Courtesy: Angela Lang / CNET

A survey of 242 ads by TTP found that 29, or nearly 12%, had fraudsters behind them. These ads either violated Google’s policies or had “scam features.”

To find fraudulent ads, TTP searched for words such as “student loan,” “loan exemption by President Biden,” “student debt forgiveness,” and “cancellation of student debt.” TTP reports that some of the advertised sites were designed to look like official government agencies.

According to Google, the company has a policy on financial services advertising. “We prohibit ads that misrepresent our partnerships with government agencies, and we have strict rules, such as a policy that prohibits ads that do not specify relevant fees or advertise credit information repair services. We manage advertising for financial services on our advertising platform, “said spokeswoman Michael Aciman.

According to the 2021 Census, about 1 in 8 Americans43 million peopleHowever, he has some student loan debt. President Joe Biden is working on a student loan exemption plan, which could be announced in July-August.The Wall Street JournalReported. It seems that this plan will be implemented at the end of August, when the temporary suspension of student loan payments due to Korona-ka will end. In the United States, student loans of about $ 25 billion have already been exempted.