EU urged to force Big Tech to vet financial ads for scams

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Financial Times 16h ago

EU urged to force Big Tech to vet financial ads for scams - Financial Times

Quick Summary:

Google has a financial services certification programme to help combat fraud, which is active in 17 countries.

Warsaw has instead suggested simplifying communication between payment providers and platforms, which would then have to “remove or block access to content of relevance to the cause of the reported fraud”, according to a draft proposal.

According to the Bank of Ireland, the country’s biggest bank and a champion of the Irish proposals, more than 75 per cent of its customers’ losses last year came from investment fraud.