Consumer Advocates Criticize Platforms Over Financial Fraud Inaction (heise.de)

• German consumer advocates criticize major platforms for insufficient action against financial fraud.
• Fraudulent schemes include get-rich-quick offers, fake financial coaching, and bogus online shops.
• Advocates call for stricter enforcement and potentially new legislation under the Digital Services Act.

"Consumer protection groups in Germany have sharply criticized major online platforms for failing to adequately combat financial fraud, including get-rich-quick schemes, dubious financial coaching, and fake online shops. They argue that platforms like social media networks and marketplaces are not doing enough to detect and remove fraudulent content, leaving consumers vulnerable. The criticism comes amid growing regulatory pressure on tech companies to take greater responsibility for illegal activities on their services. Advocates are calling for stricter enforcement of existing laws and possibly new legislation to hold platforms accountable."