'EU Imposes Heavy Fines on Elon Musk's X for Deceptive Use of Paid Checkmarks'

Money | July 12, 2024, 5:14 p.m.

The European Commission has accused Elon Musk's social media platform, X, of deceiving users and violating the Digital Services Act by overhauling the Twitter verification system. The commission found that the platform's use of blue checkmarks for 'verified accounts' is misleading users and allowing malicious actors to deceive them. X has been accused of not following industry practices, hindering users' ability to make informed decisions, and failing to provide transparency in advertising and data access for researchers. If the preliminary findings are upheld, X could face fines of up to 6% of their annual turnover and be required to take corrective measures. X is allowed to respond to the allegations, but the EC is determined to ensure compliance with EU legislation and maintain transparency in online platforms.