The policy would cover sites that distribute false news, a Google spokeswoman said.

The Wall Street Journal broke the news in separate reports; first of all reporting that Google was to update the terms and conditions of its ad network AdSense, to prohibit sites that "misrepresent, misstate, or hide information".

Google Inc. has come forward towards removing fake news websites from its popular ad network named AdSense.

The search giant said Monday night that it would ban all publishers with articles meant to mislead or deceive readers from its AdSense network, the exchange through which Google sells display ads to independent sites across the web. The company said its team will continue to closely vet all prospective publishers and monitor existing ones to ensure compliance.

Google, too, faced criticism after last week's election for giving prominence to false news stories. 99% of the content which is shown on the Facebook is authentic argues Zuckerberg and strongly denies this accusation.

Google does not remove pages from its search results except when they contain malware or illegal content.

Though Google and Facebook's move won't outright stop the production of fake content, it would reduce the financial incentive for its creation.

There are concerns that the monitoring of sites for fake news and the penalties could give internet companies more power.

The move by Facebook to ban fake news sites from advertising comes just hours after Google announced a similar measure. For example Google is putting a halt on ads from appearing next to pornographic material or violent content.

Facebook is not alone in coming under fire over fake news.

Despite this, the social network has seemingly joined Alphabet in blocking these fake sites from using its advertising network.

However, the change in policy will not target fake news that is shared by users on their news feeds.

According to a Buzzfeed report published Monday, the unofficial task force was formed by Facebook employees who allege fake news "ran wild" on the social network during the presidential campaign.

Facebook has begun working - they started before the latest controversy - on enabling people to flag hoaxes and fake news.