Ofcom says Big Tech must tackle scourge of scam adverts

Big Tech will be held accountable for tackling scam ads on their platforms, under proposed new fraud-fighting rules announced today by Ofcom.

New proposals on tackling paid-for scam adverts further implement the Online Safety Act and will apply to some of the UK’s most widely used sites and apps- including social media and search platforms – in line with criteria set by Government.

More than £40billion a year is spent on digital advertising across the UK, making up the majority of the revenue earned by the tech giants selling the ads.

But tech firms haven’t done enough to protect people from cybercriminals who use their platforms, and scam adverts can have devastating consequences for victims, including financial loss and emotional distress.

Over half (51%) of adults have encountered potentially fraudulent ads online, with over a third (36%) seeing them frequently. An estimated total of over £200million is lost by victims to these kinds of scams in the UK on average each year.

Ofcom’s draft fraudulent advertising code means Big Tech will for the first time be legally required to put robust measures in place to address scam advertising, when it comes into force.

Ofcom’s work is part of a wider effort to tackle fraud, the UK’s most commonly experienced crime. Fraud may start online before moving elsewhere, and we are working closely with partners like law enforcement, business, and organisations that represent consumers.

Further details – https://www.ofcom.org.uk/online-safety/online-fraud/big-tech-must-tackle-scourge-of-scam-adverts-says-ofcom