HT TECH wants to start sending you push notifications. Click allow to subscribe

Facebook, Google scam victims should be refunded: Lawmakers

A group of U.K. lawmakers is urging the government to “seriously consider” forcing Facebook, Google to refund victims of fraud on their sites.

By: BLOOMBERG
Updated on: Aug 21 2022, 23:45 IST
Lawmakers want Facebook’s owner Meta Platforms Inc. and Google’s parent Alphabet Inc. to refund victims of fraud on their sites. (HT_PRINT)
Lawmakers want Facebook’s owner Meta Platforms Inc. and Google’s parent Alphabet Inc. to refund victims of fraud on their sites. (HT_PRINT)

A group of U.K. lawmakers is urging the government to “seriously consider” forcing technology companies including Facebook’s owner Meta Platforms Inc. and Google’s parent Alphabet Inc. to refund victims of fraud on their sites. “Placing a responsibility on online companies to reimburse consumers who are victims of online fraud could rapidly transform their approach,” the Treasury Committee’s report on economic crime said. “The government should seriously consider whether online companies should be required to contribute compensation when fraud is conducted using their platforms.”

The report also called for changes to the draft Online Safety Bill to make platforms more responsible for combating financial fraud. The U.K. government should also consider requiring them to “conduct Know Your Customer checks on advertisers” to block potential fraudsters, according to the report.

You may be interested in

Mobiles Tablets Laptops
37% OFF
Google Pixel 7 Pro 5G
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
₹62,990₹99,999
Buy now
37% OFF
Google Pixel 2 128GB
  • Kinda Blue
  • 4 GB RAM
  • 128 GB Storage
₹62,990₹99,999
Buy now
7% OFF
Google Pixel 7 5G
  • Obsidian
  • 8 GB RAM
  • 128 GB Storage
₹40,990₹43,999
Buy now
11% OFF
Google Pixel 7A
  • Charcoal
  • 8 GB RAM
  • 128 GB Storage
₹38,990₹43,999
Buy now
21% OFF
Acer Swift Go SFG14 41 NX KG3SI 002 Laptop
  • Pure Silver
  • 8 GB RAM
  • 512 GB SSD
₹58,999₹74,999
Buy now
39% OFF
Acer Aspire 5 A515 57G Laptop
  • Gray
  • 16 GB RAM
  • 512 GB SSD
₹54,949₹89,999
Buy now
22% OFF
Acer Aspire 3 A315 24 NX KDESI 004 Laptop
  • Silver
  • 8 GB RAM
  • 512 GB SSD
₹33,499₹42,999
Buy now
40% OFF
Asus VivoBook 15 X515JA BQ322WS Laptop
  • Transparent Silver
  • 8 GB RAM
  • 512 GB SSD
₹31,350₹51,990
Buy now
34% OFF
Xiaomi Pad 6
  • Mist Blue
  • 6 GB RAM
  • 128 GB Storage
₹26,299₹39,999
Buy now
55% OFF
Lenovo Tab M10 5G
  • Abyss Blue
  • 6 GB RAM
  • 128 GB Storage
₹20,999₹47,000
Buy now
32% OFF
Realme Pad 2
  • Imagination Grey
  • 6 GB RAM
  • 128 GB Storage
₹19,749₹28,999
Buy now
Honor Pad X9
  • Gray
  • 4 GB RAM
  • 128 GB Storage
₹14,999
Check details

Online fraud in the U.K. is surging while platforms, banks, regulators and law enforcement are often unclear about who should tackle these crimes. 

Also read: Looking for a smartphone? To check mobile finder click here.

Consumers reported 30,000 potential scams to the Financial Conduct Authority in the year to March 2021, up 77% in a year. The boom in cryptoassets has bred a new generation of scams, and analysis carried out last year by UK Finance, a lobby group for the finance industry, found that fraudulent advertising through search engines and social media was snaring a growing number of victims.

Social media companies have previously told the committee they are ramping up efforts to block potentially dangerous advertising, but that scammers frequently adapt their methods to evade detection. 

“For too long, pernicious scammers have acted with impunity, ripping off innocent consumers with fraudulent online adverts, impersonation scams and dodgy crypto investments,” committee Chair Mel Stride said.

Follow HT Tech for the latest tech news and reviews , also keep up with us on ,Twitter, Facebook, , and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 21 Aug, 23:45 IST

Sale

Mobiles Tablets Laptops
40% OFF
Google Pixel 7 5G
  • Obsidian
  • 8 GB RAM
  • 128 GB Storage
₹59,990₹99,990
Buy now
40% OFF
Google Pixel 128GB
  • Black
  • 4 GB RAM
  • 128 GB Storage
₹59,990₹99,990
Buy now
40% OFF
Google Pixel 2 128GB
  • Kinda Blue
  • 4 GB RAM
  • 128 GB Storage
₹59,990₹99,990
Buy now
30% OFF
Google Pixel 5
  • Black
  • 8 GB RAM
  • 128 GB Storage
₹30,990₹43,999
Buy now
33% OFF
Xiaomi Pad 6
  • Mist Blue
  • 6 GB RAM
  • 128 GB Storage
₹26,999₹39,999
Buy now
32% OFF
Realme Pad 2
  • Imagination Grey
  • 6 GB RAM
  • 128 GB Storage
₹19,719₹28,999
Buy now
47% OFF
Lenovo Tab M9
  • Frost Blue
  • 3 GB RAM
  • 32 GB Storage
₹8,999₹17,000
Buy now
57% OFF
Honor Pad X8
  • Blue Hour
  • 3 GB RAM
  • 32 GB Storage
₹8,999₹20,999
Buy now
31% OFF
Acer Aspire 3 A315 24 NX KDESI 004 Laptop
  • Silver
  • 8 GB RAM
  • 512 GB SSD
₹30,990₹44,999
Buy now
21% OFF
Acer Swift Go SFG14 41 NX KG3SI 002 Laptop
  • Pure Silver
  • 8 GB RAM
  • 512 GB SSD
₹58,990₹74,999
Buy now
43% OFF
Acer Aspire 5 A515 57G Laptop
  • Gray
  • 16 GB RAM
  • 512 GB SSD
₹51,250₹89,990
Buy now
39% OFF
Asus VivoBook 15 X515JA BQ322WS Laptop
  • Transparent Silver
  • 8 GB RAM
  • 512 GB SSD
₹31,790₹51,990
Buy now
NEXT ARTICLE BEGINS