Digital platforms could be hit with huge fines for failing to protect consumers from subscription traps and online scams, a new UK regulator has said.
The Digital Markets Unit (DMU) will be given new powers to ensure that online customers and businesses are not unfairly disadvantaged by the biggest players.
Firms deemed to have “strategic market status” in key digital services could be forced to abide by tailored rules on how they operate or face heavy fines under the draft Digital Markets, Competition and Consumers Bill.
The DMU—launched two years ago within the Competition and Markets Authority (CMA)—will now be able to carry out targeted interventions to allow start-ups or smaller firms to compete….