Consumer Groups Denounce Meta, TikTok and Google Over Financial Fraud Risks

The European Consumer Organisation (BEUC), representing 29 member organizations across 27 countries, has formally denounced Meta, TikTok, and Google. The coalition, which includes Spanish consumer groups CECU and ASUFIN, alleges that these tech giants have failed to mitigate the proliferation of financial scams on their platforms, directly violating the European Union’s Digital Services Act (DSA).

The Scope of the Issue

Between December 2025 and March 2026, the BEUC and various national consumer associations conducted an investigation into the prevalence of deceptive financial advertising. During this period, they identified nearly 900 advertisements suspected of violating EU law. According to the investigation, the platforms removed only 27% of the reported ads, while 52% of the complaints were either rejected or ignored. The researchers estimate that these fraudulent promotions reach over 200 million European consumers monthly.

Platform-Specific Findings

The investigation highlighted systemic failures across the three major platforms:

• Meta: The report found that specific advertisers repeatedly published fraudulent content. Meta blocked only 146 of the 503 ads reported by the participating consumer groups, leaving over 300 of the flagged advertisements live. The report further alleges that Meta continues to derive revenue from these identified fraudulent advertisers.
• TikTok: The platform reportedly ignored 40% of the reported advertisements. The BEUC noted that TikTok’s 2025 DSA risk assessment report failed to demonstrate a sufficient focus on financial scam mitigation.
• Google: Similar trends were observed, with the investigation noting that even after some ads were reported and allegedly removed, the likelihood of permanent suspension for repeat offenders remained low.

The Regulatory Challenge

The coalition is calling on the European Commission and national Digital Services Coordinators (DSCs) to investigate the measures—or lack thereof—taken by these companies. The BEUC emphasizes that under the Digital Services Act, platforms are legally obligated to identify and mitigate systemic risks, including financial fraud.

Patricia Suárez, president of ASUFIN, stated that the persistence of Ponzi schemes, pyramid scams, and fake investment opportunities indicates a lack of oversight. She noted that despite the availability of artificial intelligence capable of detecting behavioral patterns, these platforms continue to allow misleading crypto-asset advertisements to circulate with minimal security filtering.

Agustín Reyna, director general of the BEUC, echoed these concerns, asserting that there is a significant discrepancy between the platforms’ public commitments to safety and the reality of their enforcement mechanisms. “The Digital Services Act is not optional,” said David Sánchez, director general of CECU. The coalition maintains that without strict enforcement and the potential for significant fines, platforms lack the necessary incentives to alter their current practices.

Key Takeaways

• Systemic Failure: Consumer groups argue that the high volume of ignored reports points to a systemic failure to comply with the EU’s Digital Services Act.
• Inadequate Enforcement: The majority of reported scams remained active, suggesting that current moderation tools are insufficient or underutilized.
• Calls for Action: The BEUC is urging European regulators to hold these platforms accountable through formal investigations and potential financial penalties.

As the European Commission reviews these complaints, the tech industry faces mounting pressure to move beyond policy statements and demonstrate effective, proactive removal of financial threats. For now, the gap between platform claims and consumer protection outcomes remains a critical point of contention in the digital economy.