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ABI backs calls for online financial scams to be included in the Online Safety Bill

Today the Money and Mental Health Policy Institute have called for financial scams to be included in the Online Safety Bill following research that found people with mental health problems face a much greater risk of financial harm when using online services and spaces.

Mark Allen, Chief Fraud & Financial Crime Officer at the Association of British Insurers said:

“Online financial scams are rapidly on the rise and should be included in the Online Safety Bill. Legal obligations need to be put in place requiring tech companies to design systems and processes to prevent scam content from appearing on their sites and to move quickly to take down fake websites and content. Today’s research shows the devastating emotional impact of these scams and including them in the scope of the Bill will help to prevent vulnerable customers losing their life savings.”

For more information please contact the Press Office.


Last updated 17/03/2021