09:55 AM EDT, 09/23/2025 (MT Newswires) -- (Updates with European Commission's response in the third and fourth paragraph.)

The European Union is set to examine whether Microsoft ( MSFT ) , Apple ( AAPL ) , Alphabet's (GOOG) Google and Booking Holdings ( BKNG ) are doing enough to combat online financial fraud, the Financial Times reported Tuesday.

Regulators will send formal requests for information under the bloc's Digital Services Act to assess how the companies handle fake applications in their app stores, fake search results and fake accommodation listings, the report said, citing EU's tech chief Henna Virkkunen.

"Today, the Commission has sent requests for information under the DSA to Apple ( AAPL ), Booking, Microsoft ( MSFT ) and Google ( GOOG ) on how these platforms manage risks related to financial scams," a European Commission spokesperson told MT Newswires' in an emailed statement.

"App stores could enable scammers to create fake apps posing as legitimate banking or investment apps. On search engines and eCommerce platforms, scammers could publish links and ads that lead to fraudulent websites. The DSA obliges these platforms to diligently assess these risks to protect consumers in the EU," the spokesperson added.

The review could lead to formal investigations and potential fines of up to 6% of annual global turnover, according to the report.

Microsoft ( MSFT ), Apple ( AAPL ), Google ( GOOG ) and Booking did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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