<ul><li>The owner of Instagram and Facebook, Meta, is the slowest to take down scam content posted by finfluencers and fraudsters, sometimes taking up to six weeks to respond to requests from the City watchdog.</li><li>The Financial Conduct Authority (FCA) stated that while social media firms act upon takedown requests, the response time varies significantly among platforms.</li><li>The FCA has noted a significant rise in online scams, with 25,000 reports of 'unauthorised business' received last year, mainly targeting younger individuals seeking quick ways to make money.</li><li>Concerns have been raised about the reactive nature of big tech companies in addressing scam content, with calls for them to be more proactive in identifying and removing fraudulent promotions.</li></ul>

Meta slowest to remove scam content, says City watchdog

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