8legs: European consumer organisation (beuc)

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Google, Meta, TikTok face EU complaints over financial scam protections

EU regulators are urged to investigate Google, Meta, and TikTok over alleged failure to remove fraudulent financial scam ads.
BEUC says 900 flagged ads violated EU laws, but only 27% were removed by platforms.
Complaints were submitted under the EU's Digital Services Act, with potential fines for violations.
Google says it blocks over 99% of violating ads before they run and removed 159 million scam ads last year.
Meta emphasizes combating scams and notes it earned millions from scam ads previously cited in reports.
The Digital Services Act aims to increase transparency and consumer protections for online platforms.
EU has launched multiple inquiries into large tech firms, including antitrust probes and child safety audits.
BEUC and member groups allege that scams are rising across major platforms.
YouTube and TikTok are among platforms implicated in scam ad proliferation and policy debates.
Regulators could impose penalties if platforms fail to comply with the Digital Services Act.

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