Consumer rights groups in Germany have accused Google, Meta and TikTok of not doing enough to combat fraudulent financial advertising,
The organizations said on Thursday they had filed complaints with the European Commission and national authorities.
The complainants include the Federation of German Consumer Organizations (vzbv), the European consumer association BEUC and around two dozen other groups from across Europe.
The complaints target adverts for supposedly risk-free investments, unrealistically high returns and dubious financial coaching. Consumers could fall victim to scams as a result, the vzbv warned.
Between December 2025 and March 2026, nearly 900 suspicious adverts were the subject of official complaints. About 27% of these were removed. More than half of the complaints (52%) were said to have been ignored or rejected.
The platforms were not doing enough to tackle fraudulent offers and "that must change," vzbv chief executive Ramona Pop said.
Providers must prevent consumers from becoming victims of fraud via online platforms, she said.
The vzbv is also preparing a complaint to Germany's Federal Network Agency. The organizations are calling for the platforms to be held more firmly to the requirements of the European Digital Services Act (DSA), with consequences and possible fines for violations.
