FCA threatens action unless platforms such as Facebook,
Twitter and
Instagram do not toughen up against fraudsters
Social media sites such as
Facebook and Instagram serve as a “gateway” for fraudsters, the City watchdog has warned, as it demanded they take tougher action on financial scams.
While the Financial Conduct Authority praised
Google for having changed its terms for financial advertisements this month, the regulator’s head of enforcement said other tech firms were lagging behind.