Stefan Mileschin

UK government investigates

Big tech companies who carry scam adverts should be forced to reimburse victims, UK MPs have said.

Cross-party Treasury committee chairman Mel Stride said that banks have signed up for a voluntary code to reimburse fraud victims who do enough to protect themselves, there is not sufficient regulation governing social media and other websites.

"The government should look at some kind of arrangement that makes the polluter pay. Online platforms are hosting this stuff, not really putting enough effort into weeding it out, and indeed financially benefiting because they're getting the advertising revenues," Stride said.

Facebook (now known as Meta), Twitter and Microsoft had committed to requiring potential financial services advertisers authorised by the Britain's Financial Conduct Authority, following similar steps taken by Google, TikTok and Amazon.

https://fudzilla.com/news/54310-big-...rs-are-scammed