UK Regulator Blasts Meta for Letting Illegal Financial Ads Run Wild
Britain's FCA says Meta keeps failing to block illegal high-risk financial product ads despite promises to do so.
Meta is getting roasted by the UK's Financial Conduct Authority. The regulator says the tech giant has repeatedly failed to block illegal advertisements for high-risk financial products across its platforms — even after committing to do exactly that.
The FCA's complaint centers on ads running in Britain that promote risky financial products without proper authorization. These aren't one-off slip-ups. The regulator is pointing to a pattern of broken promises from Meta, which apparently keeps saying it will fix the problem and then doesn't.
For a company pulling in billions from ad revenue, the inability — or unwillingness — to filter out clearly illegal financial promotions is a bad look. The UK has been tightening its grip on financial advertising, and Meta's platforms remain a major pipeline for sketchy ads reaching British consumers.
Meta has yet to publicly respond to the FCA's latest criticism.