Google, Meta, TikTok hit by EU consumer complaints about handling of financial scams

Key points

• By Foo Yun Chee BRUSSELS, May 21 (Reuters) - Alphabet's Google, Meta Platforms and TikTok were hit with complaints from European Union consumer groups on Thursday for allegedly failing to protect users from financial scams on their platforms, putting them at risk of regulatory fines.
• The move highlights growing pressure worldwide on Big Tech to do more to address the negative impacts of social media, particularly for children and vulnerable users.
• The complaints, filed by the European Consumer Organisation (BEUC) and 29 of its members in 27 European countries, were submitted to the European Commission and national regulators under the Digital Services Act, which requires large online platforms to do more to tackle illegal and harmful content.
• "Meta, TikTok and Google not only fail to proactively remove fraudulent but also do little when being notified about such scams," BEUC Director General Agustin Reyna said in a statement.
• "If they fail...