A European consumer group coalition, BEUC and 29 member organizations, has filed formal complaints against Meta, TikTok, and Google, accusing them of failing to curb fraudulent financial advertising under the EU Digital Services Act.

The complaints underscore that DSA penalties can be as high as 6% of a company’s global annual turnover for non-compliance.

Between late 2025 and early 2026, researchers logged nearly 900 suspicious ads, but only about a quarter were removed, while roughly half were ignored or rejected.

The DSA shift prioritizes preventive risk management and could broaden oversight to how platforms control advertising systems, internal processes, and governance.

Financial scam ads are a top priority due to direct losses and are prompting scrutiny of internal escalation procedures and whether high-risk ads receive enhanced monitoring.

The report raises broad concerns about platform responsibility for fraud and illegal advertising across major social networks.

Critics say platforms rely on a policy of intervening only at about 95% certainty, allowing uncertain ads to stay up and pump revenue, while reducing fraud prevention incentives.

Meta defends its stance, saying it has invested in tools and partnerships to stop scams, while noting past scrutiny over scam ads targeting older Americans and Medicare recipients and revenue from such ads.

The action highlights perceived gaps in anti-scam enforcement and transparency under the DSA, with possible implications for platform governance and regulator scrutiny.

The broader report questions the effectiveness of platform safeguards and the practical enforcement of the DSA.

Reuters is cited as the source of the report and its details on potential regulatory actions.

Police warn that harm can occur rapidly after users click suspicious ads, and scammers also target Google, Snapchat, and TikTok, though Meta hosts the majority of such activity.