FCA warns tech giants to act against fraud

The City watchdog has promised to use new post-brexit powers to take legal action against tech titans such as Google in a crackdown on online fraud. The Financial Conduct Authority warned major internet companies to block scam ads following a surge in cases during the Covid crisis. Bosses at the regulator said they will not hesitate to pursue companies that fail to take rapid action bringing them in line with stricter rules made possible by Britain’s departure from the EU.

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