A report from Reuters in March claimed that Snapchat had only removed “a few dozen” under-13 accounts from its platform in Britain last year. Ofcom estimates Snapchat has “thousands of underage users”. If an investigation launches and if found guilty, Snap Inc could be fined an equivalent to up to 4% of its annual global turnover, which Reuters estimates at $184 million (based on recent Snap Inc financial results).
On a side note, the NSPCC (National Society for the Prevention of Cruelty to Young Children), said that figures it had obtained showed that Snapchat accounted for 43% of cases in which social media was used to distribute indecent images of children.