Google, Meta, and TikTok Face EU Consumer Complaints Over Financial Fraud Handling

Google, Meta, and TikTok are facing a new round of regulatory pressure in Europe.

According to Reuters, the European consumer organization BEUC and its 29 member organizations in 27 EU countries officially submitted complaints to the European Commission and national regulatory authorities on May 21, accusing the three companies of failing to effectively protect users from financial fraud on their platforms.

BEUC stated that its members reported nearly 900 suspected违反 EU law scams advertisements between December 2024 and March 2025, but the platforms only took down 27%, and another 52% of the reports were rejected or not processed. The EU's Digital Services Act (DSA) explicitly requires large online platforms to take more proactive measures against illegal and harmful content, with financial fraud advertisements falling under this regulatory framework.

BEUC's Director General Agustín Reyna pointed out that Google, Meta, and TikTok not only did not proactively remove fraudulent advertisements, but the actions taken after receiving relevant notifications were also very limited.

"If they do not address the financial fraud issue circulating on their platforms, fraudsters will continue to reach millions of European consumers every day, putting people at risk of losing hundreds to thousands of euros."

Under the provisions of the DSA, penalties for violations can reach up to 6% of the company's global annual turnover. Once a formal investigation or penalty procedure begins, the impact on the three companies will escalate from reputational risk to tangible financial and compliance costs.