Rocio Concha, Which? Director of Policy and Advocacy, said:
“The financial strain of the past year and record-low saving rates are pushing more people than ever to look for investments online, just as fraudsters are looking to exploit the uncertainty and confusion caused by the coronavirus – resulting in a perfect storm for scams.
“Currently, the Online Safety Bill fails to address fraudulent adverts on online platforms, which can have such devastating financial and emotional consequences for consumers.
“The case for including scam adverts in the Online Safety Bill is overwhelming, with businesses, regulators, consumer groups and many MPs all agreeing urgent action is needed. It is vital that the government seizes the opportunity to act now.”
Notes to editors