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Written question asked by Peter Aldous (Conservative) on Monday, 19 February 2024, in the House of Commons. It was due for an answer on Wednesday, 21 February 2024. It was answered by Bim Afolami (Conservative) on Tuesday, 27 February 2024 on behalf of the Treasury.

Fraud: Social Media

Question

To ask the Chancellor of the Exchequer, what assessment he has made of the potential (a) merits of requiring social media platforms to contribute to the costs of reimbursing victims of fraud and (b) impact of such a requirement on tackling fraud.

Answer

The government recognises that protecting the UK population from fraud, including is incredibly important. That is why we have agreed the Online Fraud Charter with the technology sector. Signatories, including some of the largest global tech companies, have committed to a number of actions to reduce fraud on their platforms and services including: blocking and reporting fraudulent activity, taking down fraudulent posts, and engaging with law enforcement.

More broadly, under the Online Safety Act, social media platforms will be required to establish systems and processes to remove both user generated fraudulent content and fraudulent advertising. If platforms do not comply, they may face fines of up to £18 million or 10% of their annual turnover, whichever is higher.

Secondary information

Type
Written question
Reference
14558
Session
2023-24
Subjects
Costs Fraud Repayments Social media
Link
View this Written question on www.parliament.uk