The SIGTARP (Special Inspector General for the Troubled Asset Relief Program) has cracked down on Yahoo! And Bing for their mortgage scam ads, after Google was held responsible on 16th November, as reported by Associated Press.
Ads claiming that the agencies could lower payments through government-backed programs cropped up in the major search engines. Google and Microsoft both allowed these ads without checking their credibility.
According to the statement from SIGTARP, at least 125 illicit companies of this nature were identified. The investigation, however, remains ongoing.
Google should never have published these ads, but its executives turned a blind eye to these fraudsters for far too long because of the substantial revenue such advertising generates.
- John Simpson of Consumer Watchdog
The exact amount of revenue Google gained from the companies is, as of yet, unknown.
Should Microsoft have spotted these ads prior to posting them on Bing and Yahoo? Is it likely they ignored them for profit alone? Or is it simply too much to expect a company to vett their potential ads so thoroughly
- searchenginewatch dotcom