Which? responds to FCA proposals to clamp down on misleading financial marketing

Rocio Concha, Which? Director of Policy and Advocacy, said: 

“While it’s good to see the regulator clamping down on misleading financial investments online, there is more they and the government can do to protect consumers, including by opening up their data of known rogue sites to ensure platforms can easily detect known bad actors. 

“Which?’s new research found that UK consumers are still being shown misleading and potentially fraudulent investment adverts on Facebook and Instagram. Social media as well as search engine giants, who harbour some of the most sophisticated technology in the world, must also step up and protect their users.

“To take a crucial step forward in tackling online fraud, the government must ensure fraud protections in the Online Safety bill remain strong and become law.”

-ENDS- 

 

Notes to Editors 

Misleading and potentially fraudulent investment ads infiltrating Facebook and Instagram, Which? finds

Which? has long campaigned for tech giants to take responsibility over the content that appears on their sites. See more here. 

Statement: , ,