Anti-Financial Crime & Financial Crime Compliance
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Financial Crime, Fraud, Tech, Technology

INSIGHT: Meta vowed to stop illegal financial ads in Britain. It failed 1,000 times in a week

Premium March 18, 2026
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LATEST: Global Fraud Summit 2026 ends with ‘Call to Action’ against scam surge

LATEST: Canada’s FINTRAC takes down 23 crypto-linked MSBs

INSIGHT: ‘We will take the fight to criminals’ – read the Global Fraud Summit keynote speech 

By Phoebe Seers and Tommy Reggiori Wilkes

U.S. tech giant Meta has repeatedly failed to stop illegal ads for high-risk financial products running on its platforms in Britain, despite committing to block them, according to a review by the country’s financial regulator.

Britain’s Financial Conduct Authority found that during one week in November, 1,052 ads for currency trading and certain complex financial instruments were posted on Meta’s platforms by advertisers not authorised by the regulator to promote them.

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LATEST: Global Fraud Summit 2026 ends with ‘Call to Action’ against scam surge

LATEST: Canada’s FINTRAC takes down 23 crypto-linked MSBs

INSIGHT: ‘We will take the fight to criminals’ – read the Global Fraud Summit keynote speech 

Regulatory Watch News

  • INTERPOL-UNODC global summit ends with call to action against fraud surge

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    VIENNA, Austria - The Global Fraud Summit has closed with calls for stronger global cooperation to tackle what is one of the fastest-growing types of crime, affecting millions of individuals and businesses around the world. Driven by rapid technological advances, fraud has evolved into an increasingly sophisticated and highly organized global enterprise. Technology was a central focus of discussions during the two-day (16 and 17 March) event, with tools such as generative AI, including deepfake videos, images, audio and chatbots, making it easier for criminals to impersonate trusted people and defraud victims.

  • Latvia: 20 suspects detained over €1.5 million IT procurement fraud

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    (Luxembourg, 18 March 2026) – The European Public Prosecutor’s Office (EPPO) in Riga (Latvia) has dismantled an organised crime group involving public officials suspected of wrongdoing in public procurement procedures for the acquisition of IT systems by state institutions. Twenty suspects were detained yesterday, including public officials. A total of 57 house and company searches were carried out yesterday with the support of Europol, the Economic Crime Combating Department and other Latvian law enforcement agencies. A substantial amount of evidence was seized, including from the State Digital Development Agency.

  • MAS Issues Prohibition Orders against former Relationship Managers, Mr Wang Qiming and Mr Liu Kai

    MAS

    The Monetary Authority of Singapore (MAS) has issued Prohibition Orders (POs) under the Financial Services and Markets Act 2022 (FSMA) against Mr Wang Qiming and Mr Liu Kai, former relationship managers, who were convicted of charges connected to the major money laundering case of August 2023. Given the gravity of their misconduct, MAS has issued a 16-year PO against Mr Wang Qiming and a 7-year PO against Mr Liu Kai.

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