It's a feature, Google allows the same. Basically advertisers want to set the links to be tracking links and stuff which may be through third parties which then redirect to their site.
So both ad services allow the advertiser to display one URL while directing users to another.
Surely they're doing some verification to ensure that either the redirect lands on the advertised TLD, or alternatively that you're at least "in control" of the TLD you're advertising as (similar to GAnalytics verification -- via meta tag, DNS txt entry, etc)?
So both ad services allow the advertiser to display one URL while directing users to another.