TikTok could possibly face a hefty fine should the European Commission's allegations be confirmed.

Social media app TikTok was charged by EU tech regulators on Thursday with breaching EU online content rules, putting its owner ByteDance at risk of a fine of as much as 6% of its global turnover. The European Commission said it had sent its preliminary findings to TikTok following an investigation launched in February last year.

TikTok Inc. isn’t fulfilling a European Union requirement meant to protect consumers from scam advertisements, putting the company at risk of a fine, the bloc’s executive arm said in a preliminary finding.