Google has accused the European Union (EU) of overstepping its boundaries by imposing a €2.4 billion ($2.6 billion) fine on the company for favoring its own shopping services over competitors. Google s lawyers argued that the company cannot be expected to treat its rivals the same as its own businesses. The fine was part of the EU s efforts to crack down on the dominance of Silicon Valley firms in Europe. Google is currently appealing the ruling. The EU rejected Google s arguments, stating that the company systematically increased its own service s visibility while lowering that of rivals.
They sound like the stuff of science fiction, but the proliferation of scam tech has alarmed regulators, police and people at the highest levels of the financial industry. Read more at straitstimes.com.