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Powers over tech platforms could ease UK fraud fight, financial regulator says

By Phoebe Seers and Sofia Gerace ( June 10, 2025, 13:26 GMT | Insight) -- Powers to force tech platforms to act over scam promotions would be "beneficial," the head of the UK’s financial markets watchdog told lawmakers today, amid concerns that some, such as Meta Platforms, are failing to monitor fraudulent content and promptly respond to takedown requests. But Nikhil Rathi said the issue had been “actively debated” and he wouldn't seek to reopen it. He also told lawmakers that Big Tech's incursion into financial services was emerging as a major financial regulation challenge.Powers to force tech platforms to act over scam promotions would be "beneficial," the head of the UK’s financial markets watchdog told lawmakers today, amid concerns that some, such as Meta Platforms, are failing to monitor fraudulent content and promptly respond to takedown requests....

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