Martin Lewis: ‘The government’s failure to include fraud in the online safety law is putting the finances and mental health of millions at risk

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    “Self-regulation is not practical”

    Just last week, on behalf of MoneySavingExpert and the Money and Mental Health Policy Institute, along with 15 other organizations, Martin urged the government to use the bill to protect people from an avalanche of online fraud.

    The coalition of companies calling for action, including Which? Consumer group, the Age UK charity, UK Finance banking trade and the City of London Police (which runs Action Fraud), argued that consumers were better off ahead of the devastating measures Financial and emotional damage from cybercrime would have to be protected.

    They also wanted online platforms like search engines and social media websites to have legal responsibility to protect users from counterfeit and fraudulent content on their websites that lead to fraud.

    It is now hoped that the government will protect the bill from online fraud reports when it reaches the “committee stage”. Here an invoice is viewed line by line and is usually the next stage after the second reading of an invoice. It is possible to make changes to the wording or to add new clauses.

    Announcing the bill today, the Queen said, “My government will lead the way in ensuring internet safety for everyone, especially children, while taking advantage of free, open and safe internet.” Full details of other announcements, including a restructuring of student loans and other rights for tenants can be found in our recap of the Queen’s 2021 speech.

    Anabel Hoult, Managing Director of Which? Added: “The current self-regulatory approach is not appropriate. The case for including fraud in the Online Security Act is overwhelming. Industry, regulators and consumer groups are urging action to combat online fraud and platforms to better protect their users from fraudsters. ”



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