The EU wants Apple, Google and Microsoft to clamp down on online scams

The European Union has sent formal information requests to tech giants Apple, Google, Microsoft, and Booking Holdings, asking them to explain how they police online financial scams. The EU's Digital Services Act (DSA) aims to enforce stricter measures against illegal content and disinformation, with penalties of up to 6% of global annual revenue for non-compliance. The EU is particularly concerned about the rise of fake banking apps, fraudulent search results, and accommodation listings, which have led to an estimated €4 billion ($4.7 billion) in losses across the EU each year. The increased use of AI has made it more difficult to detect these scams. The companies will have the opportunity to respond to the information requests, but the EU has shown its willingness to impose hefty fines, as demonstrated by recent penalties on Apple and Meta. These enforcement actions have drawn the attention of the US government, with President Trump threatening a trade probe over what he sees as "discriminatory actions" against American tech companies.