The European Commission is going after big tech again. This time, the Commission is demanding Apple, Google, Microsoft and Booking.com what they are doing to mitigate financial scams.
The request falls under the EU Digital Services Act, as “very large online platforms and search engines must assess and mitigate systemic risks, including those linked to the spread of illegal content and consumer protection.”
The Commission is asking platforms to provide information on their advertising databases where information on must be stored and made accessible. The Commission states that these repositories “enable regulators, researchers, and the public to detect fraudulent ads and patterns used by scammers.”
The financial scams are said to include attempts to use these platforms to promote fake financial services like investing and banking.
For Booking.com, fraudsters may use the platform to promote bogus accommodations that steal users’ money.
Henna Virkkunen, Executive Vice-President for Tech Sovereignty, Security and Democracy of the European Commission, says online fraud can start very easily nowadays.
“Under the Digital Services Act, very large online platforms and search engines must assess and mitigate systemic risks, including those linked to the spread of illegal content and consumer protection.”