Feds target mortgage ad scams on Bing, Yahoo
The federal organization overseeing the administration of funds from the 2008 bailout has cracked down on alleged scams that used Bing and Yahoo to lure vulnerable homeowners with ads for bogus mortgage modification deals.
The Office of the Special Inspector General for the Troubled Asset Relief Program, or SIGTARP, last week shut down 85 alleged online mortgage scams that advertised with Google and targeted struggling homeowners.
In the deal announced today (PDF), Microsoft, which owns Bing and powers ads that run in the United States on Yahoo, blocked all future advertising associated with the 125 scams identified by SIGTARP.
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