Technology companies must compensate victims of online fraud – Mehr News Agency | Iran and world’s news

Online fraud, meanwhile, has become more widespread across the UK.

“While banks are preparing for a voluntary reimbursement law for a group of fraud victims who take adequate care of themselves online, the law,” said Mel Stride, chairman of Parliament’s Treasury Committee. There is not enough to monitor social networks and other websites where victims are deceived.

He added: “Online platforms that publish such content do not show enough effort to eliminate it, and on the other hand receive financial benefits because they gain access to advertising revenue.”

Tech UK, which represents the tech giants in the UK, including Facebook, Twitter and Microsoft, declined to comment.

Stride’s comments came as the British Parliament’s Treasury Committee released findings from a report on economic crimes. The report called on the government to seriously consider forcing online platforms to compensate victims.

The report notes that Tech UK announced in December that Facebook, Twitter and Microsoft had pledged to require advertisers’ financial services to obtain permission from the UK Financial Strategy Authority. Google, Tic Tac and Amazon have done the same before.

But the report does not specify a timeline for the changes, and other online platforms have not followed suit.

Meanwhile, Britain has become the center of banking fraud in the world. Reuters reported in October 2021 that 754 million pounds ($ 1 billion) had been stolen in the first six months of last year, up 30 percent from the same period in 2020.