20 September 2023
If you are covering the Online Safety Bill passing in the Lord’s and being set to receive Royal Assent, please see the following comment from Priti Verma, chief risk officer at Quilter:
“We’ve had an exceptionally long period of time where politicians and organisations have all been saying the same thing – that the Online Safety Bill must include measures that put the onus on the tech companies to take direct action for advertising scams and impersonation scams. It is therefore a good step forward that this Bill is finally going to receive Royal Assent and includes those measures.
“UK Finance reported over £1.2 billion was stolen through fraud in 2022 and consumers across the UK need firm assurance that tech companies are serious about eradicating the threat of online fraud. The fact that, until now, fraudsters were able to sell their fraudulent wares, with virtually no regulatory measures in place to protect consumers, or sanctions on those tech firms, has been a failing for many years.
“The tech sector must now step up, embrace the new measures and help raise awareness of online threats through advertising and media campaigns.”
