Online Fraud Charter: Tech firms pledge to stop fraud under new government measures
- Tech companies will voluntarily sign the ‘Online Fraud Charter’
- It will require tech companies to commit to tackling online scams and fake advertising
The government is taking measures to force technology companies to crack down on online fraud.
The Home Office has announced that the government will join forces with 11 of the world’s largest technology companies to tackle online fraud.
It will see tech companies sign an ‘Online Fraud Charter’, promising to take action to protect their users from online scams and block false advertising and fraudulent content affecting their users.
The technology companies involved in the development of 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 that tech companies will voluntarily sign, pledging to block fraudulent advertising and online scams
The charter is voluntary, so there are no sanctions if companies are found not to be doing enough in accordance with its terms.
Our sister title Money Mail has been campaigning for the government to force tech companies to step in and stop the scammers.
Earlier this year we revealed how Facebook Marketplace had become a hotbed of scammers – and earlier this week how there are thousands of fake car ads 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 companies to crack down on scammers operating on their platforms.
Under the new pledge, tech companies will be required to take measures including verifying new advertisers and immediately removing fraudulent content.
According to the charter, there will also be more levels of verification on online marketplaces, and people using online dating services will have the chance to prove they are who they say they are.
The charter will be supported by an action plan, approved by the Online Advertising Taskforce, to crack down on illegal advertising and advertising for age-restricted products, such as alcohol or gambling, 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 improve child protection.
The Prime Minister said: ‘Fraud is now the most common crime in Britain, with online scammers targeting the most vulnerable in society.
“By joining forces with these tech giants, we will continue to fight the fraudsters and ensure they have nowhere to hide online.”
Paul Davis, director of fraud prevention at TSB, said: ‘We have been campaigning for years to get technology companies to do much more to prevent the fraud that has become widespread on social media platforms.
“Now that we have the Charter, it is up to all signatories to match their commitment with meaningful, coordinated action – putting the right protections in place to reduce fraud and taking responsibility for protecting millions of consumers on their platforms.”