The Treasury Committee in the UK Parliament on Wednesday urged government to "push harder and act faster" to tackle economic crime, and address fraud via online advertising in the Online Safety Bill
LONDON (Pakistan Point News / Sputnik - 02nd February, 2022) The Treasury Committee in the UK Parliament on Wednesday urged government to "push harder and act faster" to tackle economic crime, and address fraud via online advertising in the Online Safety Bill.
"We expect that the Government will use the opportunity to push harder and act faster to reduce fraud and economic crime across a range of policy areas," the report issued by the cross-party group of lawmakers said.
They also called on the government to consider whether policy responsibility should be centralized in a single department, as they claimed that economic crime seems not to be a priority for law enforcement.
"The number of agencies responsible for fighting economic crime and fraud is bewildering ... and the Government needs to consider whether there should be a single law enforcement agency with clear responsibilities and objectives to fight economic crime," the parliamentary committee said.
It also recommended to prevent further harm to customers being offered fraudulent financial products online by requiring websites to do thorough checks on advertisers and only allow promotions from financial services companies that are authorized by the Financial Conduct Authority.
The Treasury Committee asked for reimbursement for such scams to be made mandatory.
