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 consumer groups. The report, released on May 20, 2026, highlights that these platforms have not adequately addressed scam finance and cryptocurrency adverts, which have led to significant consumer losses.
The consumer groups, including members from across the European Union, argue that the platforms' self-regulatory measures are insufficient. They urge the European Commission to enforce the Digital Services Act (DSA) more strictly, requiring platforms to proactively detect and remove fraudulent ads. The report notes that despite previous warnings, Meta, TikTok, and Google continue to host adverts promoting high-risk investments and crypto scams.
According to the report, the platforms have failed to meet their obligations under the DSA, which came into full effect in February 2024. The consumer groups demand that the European Commission take formal action, including potential fines, to compel compliance. They also call for greater transparency in how these platforms moderate advertising content.
In response, a Meta spokesperson stated that the company has invested in systems to detect and remove scam ads, but acknowledged that challenges remain. TikTok and Google have not yet publicly commented on the report. The European Commission has indicated it will review the consumer groups' request and consider next steps.
