The British government is reportedly considering ways to make technology firms responsible for the surge in online scam adverts.
John Glen, economic secretary to the Treasury, suggested that the Online Safety Bill could be amended to feature stronger measures to tackle fraudulent activity online and make internet giants play their part.
He deemed the spreading of ‘get rich quick’ scheme adverts as a “massive problem”, according to newspaper The Times.
But the current draft legislation does not include any measures to include tech firms in the fight against scams, as it places the burden on financial regulators to request adverts to be taken down.
The suggested move comes shortly after the Financial Conduct Authority called on the government to place responsibility on internet companies within the bill to protect consumers; and following the chair of the Treasury Committee’s request to social media giants to share their policies on dealing with online scams.
According to a government source, the Department for Digital, Culture, Media and Sport is working on additional provisions to be added to the bill that would address concerns related to fraudulent online advertisement.