UK Regulator Targets Tech Platforms With Massive Fines Over Scam Ads

Ofcom is proposing new enforcement powers to make Facebook, Instagram, YouTube, and ChatGPT ban fraudulent advertisers and block them from creating new accounts. Companies that refuse face fines up to 10% of global revenue starting 2027. The measure tackles a real gap: Meta pledged to stop illegal financial ads in Britain but was hosting roughly 1,000 weekly as of March 2026.