Sunday, June 8, 2025
No Result
View All Result
newshub
  • Global news
  • Financial insights
    • Africa
    • Asia
    • Australia
    • Central Banks
    • China
    • Commodities
    • Europe
    • Banking
    • Corporate
    • Neobanking
    • Investment
    • Japan
    • South East Asia
    • Stock of the week
    • UK
    • US
  • Fin & tech
    • AI
    • Blockchain
    • Crypto
    • MSTRpay
    • Tech
  • Climate & energy
    • Climate
    • Carbon
    • Coal
    • Disruptive
    • Gas
    • Nuclear
    • Oil
    • Solar
    • Water
    • Waves
    • Wind
    • Renewable
    • South America
  • Lifestyle
    • Best chefs
    • Cocktail of the week
    • History
    • Influential women
  • WEX
    • Alt Kap Holding AB
    • Digital Network Holding, Inc.
    • Fantas-E AB
    • International Clean Energy Inc.
    • Intritum Partner Limited
    • Intritum Recycling GH Limited
    • MSTRpay AB
    • SWAP Services, Inc.
    • VMT Holding, Inc.
    • Universal Streaming Technologies – USTA
    • TC Unterhaltungselektronik AG
  • Global news
  • Financial insights
    • Africa
    • Asia
    • Australia
    • Central Banks
    • China
    • Commodities
    • Europe
    • Banking
    • Corporate
    • Neobanking
    • Investment
    • Japan
    • South East Asia
    • Stock of the week
    • UK
    • US
  • Fin & tech
    • AI
    • Blockchain
    • Crypto
    • MSTRpay
    • Tech
  • Climate & energy
    • Climate
    • Carbon
    • Coal
    • Disruptive
    • Gas
    • Nuclear
    • Oil
    • Solar
    • Water
    • Waves
    • Wind
    • Renewable
    • South America
  • Lifestyle
    • Best chefs
    • Cocktail of the week
    • History
    • Influential women
  • WEX
    • Alt Kap Holding AB
    • Digital Network Holding, Inc.
    • Fantas-E AB
    • International Clean Energy Inc.
    • Intritum Partner Limited
    • Intritum Recycling GH Limited
    • MSTRpay AB
    • SWAP Services, Inc.
    • VMT Holding, Inc.
    • Universal Streaming Technologies – USTA
    • TC Unterhaltungselektronik AG
No Result
View All Result
newshub
No Result
View All Result
ADVERTISEMENT

Cold calling ban to fight financial fraudsters

2023/05/03/08:30
in UK News
Reading Time: 4 mins read
235 18
A A
Cold calling ban to fight financial fraudsters
MSTRpay MSTRpay MSTRpay
ADVERTISEMENT

No hiding place for criminals, promises Sunak

Cold-calling will be banned for all financial products as part of a national strategy to tackle the £7 billion-a-year cost of fraud in Britain.

The ban will include unsolicited phone calls from those trying to sell any type of insurance or cryptocurrency schemes as they are seen as the most common scams used against victims, particularly older people.

It emulates a ban on cold-calling about pension products, which was introduced in 2019. The ban will be combined with an advertising campaign so that, over time, fraudsters who try to con victims with unsolicited calls will be shut out.

Rishi Sunak, who promised in November that a new national fraud strategy would be introduced “shortly”, said that plans to attack scams at their source would prevent more “cold-hearted crimes” in the first place. “We will take the fight to these fraudsters, wherever they try to hide,” he said before an event at which he will join Suella Braverman, the home secretary, to publicise the plans.

A new National Fraud Squad will be created, with 500 specialist investigators deployed to target fraudsters, replacing the complex structures that have been blamed for the low rates of fraud prosecuted by the police.

The squad will create 400 new posts dedicated to fighting fraud, adding to 120 people already employed full-time in the work, although this will still mean that only 1 per cent of police officers are allocated to tackling fraud.

This is despite fraud now being the most common crime in Britain, representing 41 per cent of all offences, according to Home Office figures. One in 15 people fall victim to fraud each year, costing members of the public a combined £7 billion per year. Nine in ten internet users have encountered online scams.

The system for reporting fraud to the police will finally be replaced, two years after the government made the pledge following a Times investigation that exposed failings with the Action Fraud service.

An undercover reporter found that Action Fraud had trained call handlers to mislead victims into thinking their cases would be investigated when most were never looked at. Managers in charge of collating fraud reports at the organisation’s call centre mocked those who had lost money as “morons”

The Home Office’s plans to overhaul the service will include a £30 million investment and a simpler route for reporting fraud online, with reduced waiting times and an online portal to allow victims to get real-time updates on the progress of their case.

A new system will be up and running within a year, the department has said, although it has not committed itself to renaming the service, meaning it could continue to be called Action Fraud. Other measures in the national fraud strategy include the ability for banks to delay payments for longer than the present 24-hour period to enable transactions to be investigated.

The government will also ban so-called Sim farms, which are devices that can be loaded with hundreds of phone Sim cards and are controlled from a computer. Fraudsters use them to send tens of thousands of scam texts at once, cheaply, quickly and easily.

Sim farms are increasingly used for advance-fee fraud, where criminals send phishing messages that ask people to pay an upfront fee for fake goods or services, such as asking for an unpaid fee on a Royal Mail package, or a fake text from a bank asking the recipient to click on a link to confirm a payment. Advance-fee fraud has risen eightfold since the Covid-19 pandemic started, with 454,000 offences last year, against 60,000 in the year ending March 2020.

The strategy also commits the Home Office to working with Ofcom to deploy new technology to crack down on “number spoofing”, which is used by fraudsters to impersonate legitimate UK phone numbers from abroad.

Announcing the plans last night, Sunak said: “Scammers ruin lives in seconds, deceiving people in the most despicable ways in order to line their pockets. We will take the fight to these fraudsters, wherever they try to hide.”

However, campaigners have accused the government of watering down its plans. Ministers were proposing to force companies to pay victims of online financial scams that were facilitated by their websites or services. The government said that the Online Safety Bill would introduce a “duty of care” on large companies to protect their users from fraud, although the money raised from fines against firms who fail to do so would not go to victims.

Rocio Concha, from the consumer watchdog Which?, said: “The government has been dragging its heels on giving tech giants more legal responsibility.”

The Royal United Services Institute said that the allocation of 400 new officers to the new fraud squad would not lift the resources dedicated to tackling fraud above the present 1 per cent of police resources allocated to the crime.

Source: The Times

Related Posts

Sir David: Beckham to be knighted by King Charles in long-awaited honour
UK News

Sir David: Beckham to be knighted by King Charles in long-awaited honour

by newshub
1 day ago

David Beckham, one of Britain’s most iconic sports and cultural figures, is finally set to receive a knighthood from King...

Read moreDetails
Brexit’s evolving legacy: How UK citizens feel now

Brexit’s evolving legacy: How UK citizens feel now

7 days ago
Boost for British travelers as EU pushes back post-Brexit border checks

New fingerprint checks for UK travellers to the EU

1 week ago
Brexit’s crushing toll: £140 billion lost and counting

Brexit’s crushing toll: £140 billion lost and counting

2 weeks ago
Starmer admits he has not spoken to Trump since he brought in trade tariffs

Starmer admits he has not spoken to Trump since he brought in trade tariffs

2 months ago
Heathrow partially reopens after fire that caused power cut and travel chaos

Heathrow partially reopens after fire that caused power cut and travel chaos

3 months ago
No Result
View All Result

Recent Posts

  • Dior appoints Jonathan Anderson as sole Creative Director in bold creative shift
  • Vasyl Malyuk: The ‘Bulldog’ behind Ukraine’s Spiderweb strikes on Russian airfields
  • ‘Full porting Bitcoin’ could be Musk’s Trump card in escalating feud
  • Giant ‘doomsday’ oarfish washes up on Tasmania’s remote west coast
  • Carney invites Modi to G7 amid unresolved tensions over Sikh activist’s killing

Recent Comments

    Archives

    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • August 2023
    • July 2023
    • June 2023
    • May 2023
    • April 2023
    • March 2023
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022

    Categories

    • Africa
    • AI
    • An diesem Tag
    • Asia
    • Australia
    • Banking
    • Best chefs
    • Biden
    • Blockchain
    • Blockchain technology
    • Carbon
    • Central Banks
    • China
    • Climate
    • Climate & Energy
    • Coal
    • Cocktail of the week
    • Commodities
    • Corporate
    • Crypto
    • Deutsch
    • Deutsch PR
    • English PR
    • Europe
    • Financial insights
    • Focus on neobanking
    • Gas
    • Global news
    • Harris
    • History
    • India
    • Influential women
    • Invest and Rest
    • Italiano PR
    • Japan
    • Lifestyle
    • Metaverse
    • MSTRpay
    • Neobanking
    • News
    • newshub special
    • newshub-special
    • NFT
    • Nobel Prizes 2024
    • Nuclear
    • Oil
    • Press
    • Press releases
    • Pressroom
    • Renewable
    • Russia
    • Solar
    • South America
    • South East Asia
    • Stock of the week
    • Stocks
    • Svensk PR
    • Tech
    • Trump
    • Trump trials
    • UFO
    • UK
    • UK News
    • Ukraine
    • US
    • US politics
    • Waves
    • WEX
    • Wind

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org

    Recent Posts

    • Dior appoints Jonathan Anderson as sole Creative Director in bold creative shift
    • Vasyl Malyuk: The ‘Bulldog’ behind Ukraine’s Spiderweb strikes on Russian airfields
    • ‘Full porting Bitcoin’ could be Musk’s Trump card in escalating feud
    • Giant ‘doomsday’ oarfish washes up on Tasmania’s remote west coast
    • Carney invites Modi to G7 amid unresolved tensions over Sikh activist’s killing

    Categories

    • Africa
    • AI
    • An diesem Tag
    • Asia
    • Australia
    • Banking
    • Best chefs
    • Biden
    • Blockchain
    • Blockchain technology
    • Carbon
    • Central Banks
    • China
    • Climate
    • Climate & Energy
    • Coal
    • Cocktail of the week
    • Commodities
    • Corporate
    • Crypto
    • Deutsch
    • Deutsch PR
    • English PR
    • Europe
    • Financial insights
    • Focus on neobanking
    • Gas
    • Global news
    • Harris
    • History
    • India
    • Influential women
    • Invest and Rest
    • Italiano PR
    • Japan
    • Lifestyle
    • Metaverse
    • MSTRpay
    • Neobanking
    • News
    • newshub special
    • newshub-special
    • NFT
    • Nobel Prizes 2024
    • Nuclear
    • Oil
    • Press
    • Press releases
    • Pressroom
    • Renewable
    • Russia
    • Solar
    • South America
    • South East Asia
    • Stock of the week
    • Stocks
    • Svensk PR
    • Tech
    • Trump
    • Trump trials
    • UFO
    • UK
    • UK News
    • Ukraine
    • US
    • US politics
    • Waves
    • WEX
    • Wind

    Archives

    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • August 2023
    • July 2023
    • June 2023
    • May 2023
    • April 2023
    • March 2023
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    newshub

    © 2023-2025
    MSTRpay & PAXIT
    Legal & Disclosure

    • Global news
    • Financial insights
    • Fin & tech
    • Climate & energy
    • Lifestyle
    • WEX

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Global news
    • Financial insights
      • Africa
      • Asia
      • Australia
      • Central Banks
      • China
      • Commodities
      • Europe
      • Banking
      • Corporate
      • Neobanking
      • Investment
      • Japan
      • South East Asia
      • Stock of the week
      • UK
      • US
    • Fin & tech
      • AI
      • Blockchain
      • Crypto
      • MSTRpay
      • Tech
    • Climate & energy
      • Climate
      • Carbon
      • Coal
      • Disruptive
      • Gas
      • Nuclear
      • Oil
      • Solar
      • Water
      • Waves
      • Wind
      • Renewable
      • South America
    • Lifestyle
      • Best chefs
      • Cocktail of the week
      • History
      • Influential women
    • WEX
      • Alt Kap Holding AB
      • Digital Network Holding, Inc.
      • Fantas-E AB
      • International Clean Energy Inc.
      • Intritum Partner Limited
      • Intritum Recycling GH Limited
      • MSTRpay AB
      • SWAP Services, Inc.
      • VMT Holding, Inc.
      • Universal Streaming Technologies – USTA
      • TC Unterhaltungselektronik AG

    © 2023-2025
    MSTRpay & PAXIT
    Legal & Disclosure