Alphabet’s Google, Meta, and TikTok face formal EU complaints from the European Consumer Organisation (BEUC) and 29 member groups. These filings under the Digital Services Act (DSA) allege failures to protect users from financial scams.
The complaints accuse Google of ignoring or rejecting 40% of flagged fraudulent advertisements. Google claims it proactively blocks over 99% of policy-violating ads before they go live.
Breaching these safety mandates could result in fines of up to 6% of global annual revenue.
Alphabet Class C shares (GOOG) closed at $384.20 on May 22. The stock rose 0.19% as investors prioritized bullish post-I/O analyst coverage over regulatory risks.