Connect with us

Hi, what are you looking for?

Investing

Martin Lewis’ charity calls for new measures to stop online scams

Martin lewis

A charity set up by Martin Lewis has warned the government’s proposed online safety bill needs to be radically overhauled to better protect people with mental health problems falling victim to online scams and fraud.

The Money and Mental Health Policy Institute, a research charity started by Lewis, said there are now “gaping holes in the UK’s online consumer protections” that are leaving victims facing financial misery as a result.

The online harms bill, as it was called, was first proposed by Theresa May’s government in April 2019. It sets out strict new guidelines governing removal of illegal content such as child sexual abuse, terrorist material and media that promotes suicide.

However, the charity is calling on government to go further. It said the telecoms regulator, Ofcom, should be given new powers to force online platforms such as Facebook and Twitter to take stronger action on user-generated scams. It is particularly concerned about “scam content” which is made to resemble a social media post from a friend.

Research for the charity found that people with mental health problems face a much greater risk of financial harm when using online services and spaces – from impulsive spending or taking out high cost credit, to dealing with scammers.

They are three times more likely to have been victim of an online scam, compared with the wider population, it warned.

Martin Lewis, founder and chair of the Money and Mental Health Policy Institute, as well as MoneySavingExpert said: “I simply don’t understand how an online safety bill can simply exclude the epidemic of scams the UK faces. Scams don’t just steal people’s money, it often takes their self-respect and mental health too. As it stands the bill will utterly fail to protect people from the growing threat posed by online scammers, especially to vulnerable people.”

Lewis, who has been campaigning for action on online scams for three years, said the UK consumer protections and fraud investigations remain hopelessly inadequate, and out of date.

“The bill represents a golden opportunity for the government to put this right, by putting proper safeguards in place against scams, but unthinkably it is planning to pass up the chance to put things right. We can’t continue to leave big tech, much of which comes from the original wild west, to police itself,” he said

The government has promised that its new online safety bill (due to be introduced into parliament this year) will create the “most comprehensive online safety regime in the world”.

Read more:
Martin Lewis’ charity calls for new measures to stop online scams

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Investing

The national pig herd has lost-one tenth of all sows over the last six months, farmers’ associations have revealed, after breeders were forced into...

Investing

EasyJet plunged £213 million into the red in the Christmas quarter and is still burning through £150 million in cash each month, putting its...

Investing

A new range of healthy yet indulgent cookies will launch in Booths this month for just £1 per pack with the UK-born snacks by...

Investing

Payments firm Checkout.com has raised $1bn (£730m), giving it a $40bn (£29bn) valuation and crowning it the UK’s most valuable private fintech. The London-headquartered...

Investing

Sylvera, a UK-based startup that provides ratings for carbon offsets, has raised $32.6m (£24.1m) in a Series A funding round to accelerate and expand...

Investing

UK-based fintech Everything has raised €2m (£1.67m) to reinvent a decades-old financial product: premium bonds. The raise was led by a group of angel...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.