Alphabet (GOOGL), the parent company of Google, is testing verified checkmarks in its online search results, which will be used to authenticate legitimate companies and distinguish them from fake websites.
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Management at Alphabet said they want to make online search safer and more secure, and help the billions of people that use Google each day to identify verified sources of information and steer clear of
fraudulent websites that take advantage of consumers and steal their money and/or identity.
Fake websites that impersonate legitimate businesses not only deceive consumers, they also inflict reputational damage on companies’ brands and products. Alphabet said the end goal of the verified checkmarks is to help people “identify trustworthy businesses online.”
Growing Precautions at Google
Alphabet’s testing of verified checkmarks comes amid a rise in online scams and disinformation. The U.S. Federal Trade Commission (FTC) says that American consumers report more than $5 billion in online fraud each year, a figure that has risen 70% since 2020.
Government and law enforcement officials say the situation is getting worse with the rise of artificial intelligence (AI) and growing proliferation of deep fake images and videos, as well as ever more sophisticated online scams. Alphabet uses automated systems to identify website pages with suspicious or fraudulent content, and prevent them from showing up in search results.
Alphabet is not the only technology company to verify legitimate content. Many companies use checkmarks, a thumbs up symbol, or other markers to indicate authenticity, including X, formerly known as Twitter, and Meta Platforms (META).
Is GOOGL Stock a Buy?
Alphabet’s Class A stock has a consensus Strong Buy rating among 39 Wall Street analysts. That rating is based on 30 Buy and nine Hold recommendations assigned in the last three months. There are no Sell ratings on the stock. The average GOOGL price target of $202.11 implies 21.48% upside potential from current levels.
