As Australians, we've come to rely on the Internet for many daily tasks, from keeping in touch with loved ones to managing our finances. Google, the world's most popular search engine, is often our go-to for finding information quickly and efficiently. However, a concerning investigation has revealed that this trusted tool may be inadvertently leading Australians straight into the clutches of scammers.

The investigation, which lasted several months, has uncovered that Google searches not only present users with websites and advertisements run by fraudsters but also give scam victims a false sense of security, making them believe they are investing in legitimate companies. This issue is particularly alarming for our senior community, who may not always be as tech-savvy and could be more susceptible to these sophisticated scams.


One of the most egregious examples of this is the case of the scam platform Bitcoin Evolution, which was blacklisted by the UK's Financial Conduct Authority in 2020 and later by Australian authorities. Despite these warnings, Google searches for Bitcoin Evolution still resulted in scam websites being the top hits rather than official scam notifications.


The situation worsens when victims, already duped and desperate for help, turn to Google only to be targeted by a new breed of criminals known as recovery scammers. These scammers offer to retrieve lost funds for a fee but further exploit the victims by taking their money and disappearing.

The investigation tested Google's search results for 100 entities recently added to the Australian Securities and Investment Commission’s (ASIC) investor alert list, which includes known scam platforms and businesses targeting Australian consumers without the appropriate licenses. The results were shocking: Google failed to block websites for these publicised scams, and the first page of results returned 101 links to websites for platforms using the same names as the blacklisted entities, including 10 Google ads directly promoting scam brands named in ASIC’s warning list.

This is not just a problem of algorithmic oversight; it's a matter of public safety. For instance, Swav, a Melbourne man, lost close to $700,000 to scammers after being lured by an advertisement on his Facebook feed. The ad featured fake celebrity endorsements, a tactic known as 'celeb-bait,' which is unfortunately not uncommon.

Google has responded to these findings by stating that it has strict policies against misleading ads and is working with the National Anti-Scam Centre (NASC) and other stakeholders to combat scams. It also mentioned that since 2022, it has required advertisers showing financial services ads to Australians to demonstrate they are licensed by ASIC.


However, damage has been done to many, and trust in Google's ability to filter out scam content has been shaken. Australians lost about $2.7 billion to scams last year, a staggering figure that underscores the importance of the federal government's planned scam reforms. These new laws aim to hold banks, telcos, and digital platforms, including Google and Meta, accountable for compensating victims if they fail to meet the obligations of new mandatory scam codes.

This is a stark reminder for our senior community to exercise caution when using search engines for financial advice or investment opportunities. It's crucial to verify the legitimacy of companies through multiple sources, be wary of unsolicited investment opportunities, and remember that if an offer seems too good to be true, it probably is.
We encourage our readers to share their experiences and tips on how to stay safe online. Have you or someone you know been targeted by these types of scams? What measures do you take to ensure the websites and ads you click on are legitimate? Your insights could help others avoid falling victim to these unscrupulous tactics. Join the conversation below, and let's help each other stay informed and protected.