EU Intensifies Scrutiny on Big Tech’s Fraud Prevention Efforts

EU Intensifies Scrutiny on Big Tech’s Fraud Prevention Efforts

European regulators are sharpening their focus on how major technology companies combat financial fraud. Recent reports indicate that the European Union is preparing to scrutinize the fraud prevention measures implemented by giants like Apple, Google, and Microsoft. This move signifies a growing concern among EU authorities regarding the adequacy of current safeguards against online financial crimes. The Digital Services Act Underpins the Investigation The impetus for this heightened examination comes from the powers granted under the Digital Services Act (DSA), a landmark piece of legislation designed to create a safer and more accountable online environment. The EU plans to issue formal requests for information to Apple, Google, and Microsoft, along with travel platform Booking Holdings. This demonstrates the DSA's far-reaching capabilities, allowing regulators to delve into the operational specifics of how these platforms manage and mitigate illegal activities, including financia…