Online fraud has risen by a third in the pandemic. We must ensure justice is delivered to victims and need to tackle this endemic of scams and frauds head on.
The push to a virtual world in the pandemic has increased the rate of online fraud and scams. Hackers and fraudsters take advantage and prey on people over the internet.
These criminals trick innocent victims into transferring them money through “push payment scams”. The banking industry is not being held accountable. It could do more to prevent these scams and support victims who slip through the net.
We need to put a stop to this. We must do more to stop those criminals taking advantage of an increasingly virtual world.
Our government has failed to properly resource the police. Only 3% of reported fraud offenses were investigated fully by the police last year. This is a systemic failure. The public should be able to trust that as victims of crime they will be compensated.
We deserve to live in a society free from fraud and scams.
That’s why we are calling to:
- Name and shame the banks with the worst record at prevent fraud and reimbursing victims
- Set minimum standards for all banks on preventing fraud
- Replace the voluntary industry code for preventing push payment scams with a mandatory code which includes reimbursing victims
- Create a national warning system for scams where individuals can check and report suspicious activity
As Liberal Democrats we champion a free and fair society. Online fraud and the continuing distress and fear it causes is a threat to this. We must tackle these crimes head on.