Twitter International will have to pay a fine of five million euros for failing to block ads published by the company Quantum AI which used the identities of famous people and press outlets to promote investments through the social network. The National Securities Market Commission (CNMV) concluded the proceedings opened two years ago against this company and today the Official State Gazette publishes the sanction.
Specifically, the Spanish markets watchdog accuses Twitter of violating the ban on publishing ads without verifying that advertisers have authorization to offer investment services. The quantum artificial intelligence used images of famous people and spread fake news pretending that they had been published by media outlets such as El País to attract clients for their investments.
For this reason, the CNMV opened a case against Twitter in 2023 and the company did not file charges.
In recent times, the CNMV has accused some social networks, in particular Twitter and TikTok, of not cooperating in the fight against financial fraud in beach bars advertised through social networks. Unlike what other platforms like Meta or Google that collaborate do
