In its latest response to the government, the coalition notes that there is still a long way to go to protect consumers from online fraudulent advertising.
The joint statement said: “As a coalition of consumer groups, charities and industry associations, we believe that the government’s current approach to combating online fraud is flawed on the Online Security Bill with a comprehensive approach to online fraud.
“While we welcome the recent incorporation into law of user-generated content fraud and fake profiles on social media sites, there is still a long way to go. If online advertising is not included in the bill, criminals have too much leeway to exploit online systems.
“That view is supported by the Financial Conduct Authority, the Bank of England, the City of London Police, the Work and Pensions Committee and the Treasury Committee. Online advertising.
“We agree with the government that the effects of these scams are often devastating, not just financially but also emotionally. It is for this reason that we urge ministers to reconsider their current plan and ensure that the bill protects as many consumers as possible from the full extent of the devastation caused by fraud. “
The full list of the 13 organizations that have signed the declaration
Here is a full list of the 13 organizations that signed today’s government response:
- Age UK
- The Association of British Insurers
- Carnegie UK Trust
- Innovative finance
- The investment company
- Monetary Policy and Mental Health Institute
- Money saving expert
- Personal Investment Management and Financial Advisory Association (PIMFA)
- B&CE Ltd, provider of national pension
- UK finance
- Victim assistance
May’s letter from the coalition had the support of 17 organizations. Those who have not signed today’s follow-up answer include the Association for Financial Markets in Europe (AFME), the City of London Corporation, the City of London Corporation Police Authority Board, and the City of London Police.