Google, Meta, TikTok face massive EU fines over financial scam ads<\/figcaption><\/figure>\n<\/div>\nGoogle, Meta and TikTok are under fire as EU consumer groups have filed complaints against these major tech platforms for allegedly failing to protect users from financial fraud occurring on their platforms. <\/p>\n
Groups including the European Consumer Organization and its 29 members in 27 European countries submitted complaints to the EU Commission under the Digital Services Act (DSA). <\/p>\n
Under the DSA, the EU holds these technology platforms accountable to do more to tackle the growing negative impacts of social media and illegal content.<\/p>\n
“Meta, TikTok and Google not only fail to proactively remove fraudulent ads, but also take little action when informed about such scams,” BEUC Director General Agustin Reyna said in a statement.<\/p>\n
\u201cIf they fail to address ongoing financial scams on their platforms, fraudsters will continue to reach millions of European consumers daily, putting people at risk of losing hundreds to thousands of euros to fraud,\u201d he said.<\/p>\n
The groups also called for launching investigations into these companies to verify whether they are complying with the rules. Demanded imposition of fine in case of any violation. <\/p>\n
Under the DSA, fines can reach up to 6 percent of a company’s global annual turnover. <\/p>\n
According to these consumer groups, they found nearly 900 ads suspected of violating EU laws between December, 2025 and March, 2026. In contrast, platforms removed only 27 percent of ads and 52 percent of reports were either ignored or rejected. <\/p>\n<\/p><\/div>\n