LONDON: Social media firms must do more to stop advertising "dodgy financial promotions" that fuel a surge in fraud or face action, Britain's Financial Conduct Authority said on Tuesday.
"We are putting them on notice that we expect them to be involved in this process of protecting the community," the FCA's head of enforcement Mark Steward told the watchdog's annual meeting.
He gave no specific examples of what he described as the adverts "feeding social media with dodgy financial promotions", but financial fraud has rocketed, especially during the coronavirus pandemic, as more consumers shop online and try digital banking and investing.
Google has prohibited investment ads that are not FCA-authorised - including for gold and cryptocurrencies - since Sept. 6 this year.
Steward said the FCA was pleased by the Google action.
"We can see it having an impact already in curtailing the increase in suspicious financial promotions on Google searches," he said.
"We are talking to all social media firms about this and it's important that all of them change their processes and procedures otherwise we will have to take action," Steward added.
The tech firms have said they are investing in fraud prevention and collaborating with the government and regulators.
UK financial watchdog warns social media over "dodgy" ads that fuel fraud
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UK financial watchdog warns social media over "dodgy" ads that fuel fraud
- Social media firms must do more to stop advertising "dodgy financial promotions," says Britain's Financial Conduct Authority
TikTok names 2025 MENA Awards nominees ahead of Dubai ceremony
- Awards celebrate 66 creators across 11 categories, spanning food, sport, education, entertainment, fashion, and beauty
- Ceremony will take place during the 1 Billion Followers Summit on Jan. 8
LONDON: TikTok has announced the nominees for its 2025 MENA Awards, an annual showcase of the creators, trends and cultural moments that shaped the region’s online conversation over the past year.
For the first time, the awards will be held in Dubai during the 1 Billion Followers Summit in January, which is one of the world’s largest gatherings of digital creators.
“We’re proud to celebrate the return of the TikTok Awards in MENA, a moment dedicated to spotlighting the remarkable creativity emerging from our region and the creators who continue to inspire creativity and bring joy to millions every day,” Kinda Ibrahim, regional general manager of operations, TikTok Middle East, Africa, South and Central Asia, said.
This year’s TikTok Awards MENA will highlight 66 creators across 11 categories, spanning food, sport, education, entertainment, fashion, and beauty, alongside four cross-cutting prizes: Creator of the Year, Visionary Content Award, Breakthrough Artist of the Year and Changemaker of the Year.
TikTok said the shortlisted accounts reflect how MENA creators drove global conversations in 2025, from viral sounds and challenges to issue-based campaigns and long-form storytelling that traveled beyond the region’s borders.
The platform said the awards are an opportunity to recognize creators whose work has helped define the platform’s mix of humor, lifestyle, music, and social commentary in Arabic and other languages.
The ceremony will also include performances by regional artists whose tracks have underpinned major TikTok trends this year, with the full lineup due to be confirmed later in December.
A full list of nominees is available on TikTok MENA channel. Public voting for the awards is now open and runs until Dec. 23, with winners set to be announced at the summit on Jan. 8.
