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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on January 14, 2025

    Featured image for article about Headlines

    ROME (Reuters) - Italy's government on Tuesday unveiled a draft law to regulate online reviews of hotels, restaurants and tourist attractions, in a bid to stop fake or paid reviewers.

    The law, which needs parliamentary approval to come into force, introduces a number of hurdles for would-be reviewers, including having to provide verifiable ID as well as proof that they visited the place they want to pass judgement on.

    Reviews will have to be posted within two weeks of the visit in question and can be removed if they are untrue or, in any case, two years after they were posted. The bill did not explain who would decide if a critique was false.

    The proposed law, which can be amended in parliament, will also outlaw reviews that are paid-for or sponsored via incentives - an underhand practice that is fairly commonplace.

    "Today marks an important step for the protection of our businesses," said Tourism Minister Daniela Santanche.

    Fake reviews are already illegal, but policing violations is difficult. The bill suggests giving the task of checking on reviews and handing out eventual fines to Italy's antitrust watchdog.

    The draft regulations were welcomed by some industry lobbies, although there were concerns over privacy and fears that the ban on anonymous reviews might drastically reduce the number of online comments about hotels and restaurants.

    "Fake reviews are a problem for fair competition between companies because they can have a big impact on sales, and are also a problem for consumers who can be misled," Michele Carrus, chairman of consumer association Federconsumatori, told Reuters.

    "The problem needed to be addressed. It's difficult to do it the right way, but I'm confident we can achieve that during the parliamentary debate," he added.

    (Reporting by Claudia Cristoferi; Editing by Crispian Balmer)

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