Despite Facebook publicly denying culpability in the spread of fake news leading up to the election, company officials have been coming together to decide how to tackle the problem in the last week, Buzzfeed News reports.

Google announced yesterday that it's planning to update its policy to exclude publishers which misrepresent content from its AdSense network.

Facebook is implementing a similar policy, a spokesman said. On the other hand Facebook announced that they will update their advertising policies and explain that ads from sites with misleading content will be banned.

Facebook CEO Mark Zuckerberg over the weekend acknowledged that hoaxes and fake news occasionally show up on his social network, but reiterated his view that they did not change the outcome of the recent USA presidential election.

He claims that 99% of what people see on Facebook is authentic.

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

This action follows soon after the United States presidential election, which saw fake news websites produce (often malicious) content that some argue could have unfairly swayed voters' decisions. While it won't lessen the likelihood of these types of articles being shared, it should reduce the incentive of some publishers to produce this content exclusively for the revenue - which was the reason why some of the sites would create these sensational - but fake - news stories. Google and Facebook manage the ad inventories, content publishers get a cut for clicks or impressions. But the move could direct this websites and the articles behind fake news scrambling for cash. Only a very small amount is fake news and hoaxes. The hoaxes are not limited to one partisan view, or even to politics, he added. Google uses a combination of algorithms and human moderation to decide whether a site is eligible to use its advertising service.

There are no indications that Facebook's latest move would affect the types of content allowed on its own platform's news feed.