“However, the powers of the FCA only goes so far and will not be enough to stop outright scammers.”
Hooper said the importance of legislation to make social media platforms responsible for taking down scam ads in a timely manner via the online safety bill is paramount.
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“Stopping scam adverts when people’s cash is so stretched should be a priority for the government,” she said.
sonia.rach@ft.com
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