New fraud prevention measures 'step in the right direction' says Martin Lewis

MSE_Emily

Social media users will be able to report scams with just one-click under new measures announced by the Government today. Banks will also be allowed to delay payments they believe to be suspicious, while cold calls on all financial products will be banned as part of a host of new measures designed to help tackle fraud...

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New fraud prevention measures 'step in the right direction' says Martin Lewis - here's what's been announced, including one-click reporting

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Reaper

Finally we can tell people all financial cold calls are scams. Previously there were exceptions so for example dodgy cryto currency schemes were allowed to call you.

Other measures include banning SIM farms and more staff to investigate scams.

Labout have called it "Too Litte, too late" which I agree with but at least it's a start.

LINK: https://www.bbc.co.uk/news/business-65466653

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/6444040/all-financial-cold-calls-to-become-illegal

No, there were/are no exceptions.

All financial cold calls are scams.

Actually, make it easier - all cold calls are almost certainly scams and are always trying to make you part with your money.

london21

Great idea.

Someone asked if they could give my number to a financial coach yesterday.

No not interested.

eskbanker

Don't like the sound of this aspect of the new proposed measures, but have started another thread to discuss on the banking board….

Looking at giving banks more time to process payments, to allow suspicious payments to be investigated and stopping people from falling victim to fraudsters

https://www.gov.uk/government/news/what-the-prime-ministers-fraud-strategy-means-for-you

https://forums.moneysavingexpert.com/discussion/6444063/new-anti-fraud-measures-unintended-consequences

Nelliegrace

Hurrah!

Next can all the calls claiming to be from Amazon be banned.

Band7

should be interesting to see how they identify illegal calls, how they ban all those calls from India and the Philippines, and how/where we can report the ones we will still receive.

IanManc

https://forums.moneysavingexpert.com/discussion/6444040/all-financial-cold-calls-to-become-illegal

"Labout have called it "Too Litte, too late" which I agree with but at least it's a start."

Financial cold calls have been happening for literally decades. If Labour think that it is "too late" to be doing something about them, then it is a pity they didn't take the opportunity to stop them when they were in power from 1997 to 2010.

artyboy

https://forums.moneysavingexpert.com/discussion/comment/80029373#Comment_80029373

they are unlikely to be able to physically stop them, but at least it will be easier to get the message out that ALL calls are now scams…

cymruchris

It's a good step to get the message out that all cold calls are scams - but sadly I'm not sure it'll help much. Many of the cold calls originate from overseas, and until they are able to upgrade the technology to deal with them more effectively, they're still going to happen, and people will still lose their savings.

Swipe

Nelliegrace said:

Hurrah!

Next can all the calls claiming to be from Amazon be banned.

Along with the energy survey calls