NextFin news, On Tuesday, September 23, 2025, the European Union formally began investigating US tech giants Apple, Google, and Microsoft over their handling of online financial scams. The probe aims to assess how these companies comply with the EU's Digital Services Act (DSA) and their efforts to detect and prevent fraudulent activities on their platforms.
The investigation was announced by EU Digital Chief Henna Virkkunen, who emphasized the growing prevalence of online criminal actions and the need for platforms to take all necessary measures to combat illegal content, including financial fraud. The EU estimates that online fraud costs the bloc over €4 billion annually.
Specifically, the EU is scrutinizing how Apple and Google manage fraudulent applications, such as fake banking apps, in their respective app stores. In 2024, Apple and Google removed nearly four million apps combined, with Google leading daily removals due to privacy, security, and fraud concerns. Apple reported removing an average of 200 apps daily in early 2025 to comply with DSA regulations.
Additionally, the investigation will examine Google and Microsoft's search engines for the presence of fake search results. Booking Holdings, the only Europe-based company under review, is also being evaluated for its handling of fraudulent accommodation listings.
The EU's information requests to these companies could escalate into official investigations. Under the DSA, failure to adequately address illegal content and disinformation can result in fines of up to 6% of a company's annual global turnover.
This move follows ongoing EU probes into other US tech platforms, including Meta's Facebook and Instagram, as well as Elon Musk's X platform. The investigations have heightened tensions between the EU and the US, with concerns over digital regulation enforcement and potential retaliatory tariffs from the US government.
Virkkunen highlighted that the rise of artificial intelligence has complicated the detection of scams, increasing the urgency for robust platform oversight. The EU's actions reflect its broader strategy to enforce digital safety and consumer protection across major technology providers operating within its jurisdiction.
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