- Tech companies will sign a voluntary ‘Online Fraud Charter’
- It will require tech firms to commit to tackling online scams and fake adds
The Government is taking measures to force tech companies to crack down on online fraud.
The Home Office has announced the Government will join forces with 11 of the world’s biggest tech companies to crack down on online fraud.
It will see tech companies sign an ‘Online Fraud Charter’, pledging to take action to protect their users against online scams and to block fake adds and fraudulent content affecting their users.
The tech companies involved in developing the charter are Amazon, eBay, Facebook, Google, Instagram, LinkedIn, Match Group, Microsoft, Snapchat, TikTok and YouTube. The Home Office says it is the first agreement of its kind in the world.
The Government has developed a charter which tech firms will sign voluntarily, pledging to block fraudlent adverts and online scams
The charter is voluntary so there are no penalties if companies are found to not be doing enough in line with the terms.
Our sister title Money Mail has been campaigning for the Government to force tech companies to step in and stop the scammers.
Earlier in the year, we revealed how Facebook Marketplace had become a hotbed of scammers – and earlier in the week, how thousands of fake car adverts are on the platform.
Britain’s five biggest banks endorsed a landmark letter from Money Mail to the Prime Minister calling on him to force social media firms to crack down on scammers operating on their platforms.
Under the new pledge, tech companies will be required to take measures which include verifying new advertisers and promptly removing any fraudulent content.
There will also be increased levels of verification on online marketplaces under the charter, and people using online dating services will have the opportunity to prove they are who they say they are.
The charter will be supported by an action plan, agreed by the Online Advertising Taskforce, to crack down on illegal adverts and ads for age-restricted products, such as alcohol or gambling, being seen by children.
The action plan will be published today and will set out the steps industry and Government are taking to tackle scams and increase protections for children.
The Prime Minister said: ‘Fraud is now the most common crime in the UK, with online scammers targeting the most vulnerable in society.
‘By joining forces with these tech giants we will continue to crack down on fraudsters, making sure they have nowhere to hide online.’
Paul Davis, director of fraud prevention at TSB, said: ‘We’ve campaigned for years for tech companies to do far more to prevent the fraud that’s become rife on social media platforms.
‘Now we have the Charter, it’s down to all signatories to match their commitment with meaningful concerted action – putting the right protections in place to reduce fraud and take responsibility to protect millions of consumers on their platforms.’