UK watchdog warns social media companies over “dodgy” adverts that fuel fraud

September 28, 2021

LONDON (Reuters) – Social media firms must do more to stop advertising “dodgy financial promotions” that fuel a surge in fraud, Britain’s Financial Conduct Authority said on Tuesday.

“We are putting them on notice that we expect them to be involved in the process of protecting the community,” the FCA’s head of enforcement Mark Steward told the watchdog’s annual meeting.

(Reporting by Huw Jones; Editing by Catherine Evans)

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