The writer is Director of Policy and Advocacy at Which?
The race to become the next UK prime minister has turned a spotlight on the current government’s policy record and what a new leader might do differently.
One piece of legislation that is now under renewed scrutiny is the online safety bill. Its intended purpose is to make the UK “the safest place in the world to be online”. If made law, it has the potential to stop millions of pounds’ worth of scams every year, among other things. It would do this by making tech companies take responsibility for stopping the flood of adverts on their sites that are paid for by fraudsters to defraud innocent people and fund organised crime.
Yet the bill may now be in jeopardy. Delayed until a new Conservative leader is chosen, it has attracted criticism and suggestions of revision in the earlier stages of the contest and from backbench MPs. Any potential revisions must not be allowed to derail years of hard work that it is hoped will shield consumers from becoming victims of fraud.
The sums of money lost in this way in Britain are staggering. Last month, UK Finance released its annual fraud report, which found that £1.3bn had been stolen through fraud in 2021. Much of this cash leaves the country and funds serious organised crime around the world.
One of the big growth areas for fraudsters is bank transfers, where victims are tricked into transferring money to criminals. Consumers lost more than £500mn to these scams…
