European consumer groups filed complaints against Google, Meta, and TikTok for failing to curb financial scam advertisements.
Nearly 900 suspect ads were reported between December and March, but platforms removed only 27% and ignored or rejected 52% of reports.
Complaints were lodged under the EU Digital Services Act, which allows fines up to 6% of a company’s global annual revenue.
Regulators may investigate compliance, potentially impacting the firms’ stock performance and prompting stricter ad‑monitoring measures.