Tech giants Google, Meta, and TikTok are facing European scrutiny for their alleged role in a growing number of financial scams targeting users. The three companies are accused of failing to proactively remove fraudulent ads from their platforms and notify users in an appropriate manner, outlined in complaints filed to regulators by the European Consumer Organisation (BEUC) and 29 of its members in 27 European countries, Reuters reported.
The consumer group flagged 900 ads that they deemed violated EU laws, but said that only 27 percent of those ads were removed by platforms. More than half of the reports were rejected or ignored.
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The complaints were submitted under the EU's Digital Services Act, and regulators could levy hefty fines if the companies are found in violation.
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