Regulator ASIC Critical Of Google Over Alleged Misleading Ads
Australia’s corporate regulator has rapped Google over the knuckles, after a court found people were misled into high-risk investments after following sponsored links in Google search results.
The Federal Court found the search ad campaign formed part of a broader pattern of misleading and deceptive conduct by investment company Mayfair 101.
This company is best known for buying Queensland’s Dunk Island, and promoting high-risk products to finance its re-opening.
ASIC’s deputy chair, Karen Chester told Guardian Australia the court’s decision has set an important precedent the regulator would use to defend consumers.
“Search engines need to consider what this decision means for them,” she said, “This is a new and emerging area of law and this case sends a really strong message.”