EU targets Apple, Google, Microsoft over online frauds costing Europeans €4bn yearly

European Union is launching its biggest crackdown yet on Big Tech’s role in enabling financial scams, targeting Apple, Google, Microsoft and Booking Holdings over failures that cost Europeans over €4 billion each year.

EU regulators will fire off formal demands for information to all four companies, escalating years of frustration over fake banking apps, fraudulent search results and bogus booking sites that drain victims’ accounts while causing lasting psychological damage.