Meta, TikTok, Google must tackle scam finance & crypto adverts, consumer groups say
European consumer organizations are calling on the European Commission to intervene against Meta, TikTok, and Google over what they describe as widespread failures to remove misleading financial advertisements, according to a new report backed by 29 groups, including the Dutch Consumers’ Association.
The organizations say their investigation shows the platforms are not doing what they claim to do to stop fraudulent ads. In their report, “Sponsored by scammers,” they documented systematic problems in how major digital platforms handle reported scam advertisements. Researchers from 13 of the consumer groups reported 893 misleading financial advertisements to the platforms. The ads included offers for short-term “fast loans,” crypto lending schemes, exaggerated investment returns, and financial services from unregistered providers.
Meta, which owns Facebook, Instagram, and WhatsApp, left 71 percent of the reported ads online. TikTok removed only 79 of 360 flagged ads, or 22 percent. Google left 40 percent of the fraudulent advertisements in place.
The groups say the reasons for keeping ads were often unclear, and in many cases, the reports were simply ignored. They argue these actions amount to violations of European law. Under the Digital Services Act, large online platforms are required to maintain accessible reporting systems for illegal ads, respond seriously to user reports, and conduct annual assessments of systemic risks while implementing safeguards for consumers.
Sandra Molenaar, director of the Consumers’ Association, criticized the platforms’ handling of reports. “It is frustrating that the platforms do not respond or respond very slowly to reports. They also make reporting difficult by requiring an unnecessary amount of detail. And when they do remove an advertisement, other ads from the same fraudulent advertiser often remain online. This unnecessarily victimizes people,” she said.
The scale of harm is significant. According to Europol, investment fraud is one of the fastest-growing forms of online crime, with victims often targeted through social media advertising and sponsored search results. In the Netherlands alone, 1.5 million people were victims of online fraud in 2025, according to Statistics Netherlands (CBS).
At the same time, the platforms generate substantial revenue from advertising. Meta uses automated systems that only intervene against suspected fraudulent ads when there is at least 95 percent certainty. When uncertainty remains, advertisers are allowed to continue running ads but must pay higher fees. Meta says this approach discourages fraud, though critics say it also increases revenue.
This criticism follows earlier warnings from Dutch authorities that Meta is also failing to adequately combat online shopping scams on Facebook and Instagram. The Dutch police said scammers are actively advertising hundreds of fake online stores on Meta’s platforms, often promoting extreme discounts on well-known brands. Since June 2025, police have designated 535 websites as criminal online stores, with 273 of those advertised on Facebook and Instagram.
“Anyone who orders something from this website will receive nothing,” said Gijs van der Linden, team leader of the National Internet Fraud Reporting Center. “Scammers also advertise via Google, Snapchat, and TikTok, but we see the vast majority on Meta’s platforms.” Police warned that even when users report suspicious ads, harm often occurs quickly, as victims have already paid before platforms act.
