It primarily helps users avoid phishing, though it has other uses as well, including notifying webmasters if their site may have been compromised. It's true that there are browsers more up to the task of protecting your privacy than Google Chrome, such as Mozilla Firefox, but others may not be as feature packed or as integrated into your life as Chrome can be. Google automatically analyses websites crawled by its spiders and marks them unsafe or deceptive.
Called Suspicious Site Reporter, the extension sends a specific site for review, with Google engineers to then decide whether it should be placed to the Safe Browsing list or not.
The company states that its Safe Browsing service protects over four billion devices from phishing attacks daily. The service warns users when they land on suspicious websites or when they try to download malicious files that may harm their computer system.
The detection of deceptive URLs will be made part of the Safe Browsing experience, which is on by default on every Google Chrome installation.
The code of the extension is open source. After they find the extension they can click on install to get it. For example, it's easy to type in go0gle.com instead of google.com and hackers sometimes take advantage of this to fool users into believing they're on the right website.
Because the number of such attempts has skyrocketed, Google Chrome now displays a new warning when users point the browser to such a confusing URL.
In addition, Google is rolling out a new feature for Chrome 75 that can prevent you from loading deceptive websites. It will ask if the legit website is the one you actually want to go to, because you don't usually visit the one you're loading.
This new warning works by comparing the URL of the page you're now on to URLs of pages you've recently visited.