The Government has told the Government that the RICH tech giants should be forced to PAY the victims of the callous scammers that are rife with their websites.
The current flimsy laws “make it easy for scammers to defraud people using cryptic ads on platforms like Facebook, Google and Twitter,” the MPs said.
The Treasury Committee warned that fraud and economic crime had increased at an “alarming rate”.
They argue that tech companies would take the matter seriously if they had to reimburse anyone who was scammed into parting with their cash.
It comes as people lose record amounts of money during the pandemic, as evil scammers fear around checkouts, lockdowns, crashes and even postal deliveries.
According to Action Fraud, overall crime of fraud has increased by 36% in the last year, with more than 420,000 recorded crimes.
Angela McLaren, Assistant Commissioner for Economics and Cybercrime at the City of London Police said that between 2019 and 2020 alone, social media was featured in more than 39,000 crime reports, resulting in 120 damages. million pounds.
She told MPs: “If we look at the types of fraud that are most emerging at the moment, most of them will be based on some form of social media platform.
“That applies whether it’s sentimental fraud, investment fraud or
“The consistent theme of all these scams, obviously, is the use of social media and social media sites.”
Facebook and others have also been criticized for profiting from the Financial Conduct Authority (FCA) ads designed to make people aware of scams.
While the tech companies offer the regulator some free advertising credits, Google still pocketed more than £690,000 from the FCA, while Facebook Meta owners made more than £364,000 and Twitter raked in. 161,000 pounds.
“We want these ads to go unpublished in the first place, to be honest,” said Mark Steward, FCA’s director of enforcement.
“The irony is that we have to pay social media to post warnings about the ads they are getting paid for with no loss on our part.”
How to protect yourself from fraud
USE the following tips to protect yourself from scammers.
- Keep your social media accounts private – Think twice before you share your details – especially your full date of birth, address and contact details – all of which can be useful to scammers.
- Deactivate and delete old social media profiles – Track your digital footprint. If the profile was created 10 years ago, there may be personal information that is currently available to the scammer to use without your knowledge or that you have forgotten.
- Password protect your device– Keep passwords complex by choosing three random words, such as roverducklemon, and adding or dividing them with symbols, numbers, and capitalization.
- Install anti-virus software on your laptops and personal devices and keep it up to date – This will make it harder for fraudsters to access your data in the first place.
- Interested in public Wi-Fi– Fraudsters can hack or imitate them. If you are, avoid accessing sensitive apps, such as mobile banking.
- Think about your offline information – Always redirect your posts when you move house and make sure your mail or mailbox is secure.
Since then, Google has offered £2.2 million worth of free credits, alongside another £1.5 million to support industry awareness.
Others have been urged to “follow Google’s example” and return the money to the regulator.
The wide-ranging report also recommends that proper regulation of cryptocurrencies is needed to prevent fraud and money laundering.
A representative for Meta, the Facebook owner, said: “Financially deceptive advertising is against our policies and we are devoting significant resources to addressing this industry-wide problem on and off the ground. our platform.”
In other news, Apple has revealed a bunch of New emojis for iPhone, which includes a pregnant man and two saucy icons.
Experts have warned that the future Space launches can be dangerous if “stupid” regimes like Russia don’t stop blowing up the sky creating debris.
And most popular phone since a millennium has been announced, with many people shocked to learn it’s not an iPhone.
We pay for your stories! Do you have a story for The Sun Online Science & Technology team? Email us at the address firstname.lastname@example.org
https://www.thesun.co.uk/tech/17518007/facebook-pay-users-scams/ Millions of Facebook users could get PAYOUT from the tech giant – are you in debt?