M
Member
Speaking in the House of Lords on 22 June 2026
Debate
Financial Services and Markets Bill [HL]Contribution
This summer, Ofcom will publish a register of categorised services subject to more stringent rules and consult on fraudulent advertising codes, to come into effect in 2027. Earlier this year, we also published a new fraud strategy, announcing an online advertising taskforce to improve transparency, new fraud prevention metrics to build platform accountability, and an online crime centre to strengthen intelligence sharing. As tech companies are already liable for the costs of implementing the systems and processes to prevent, detect and remove online fraud, alongside the costs of Ofcom’s fraud prevention work and any penalties for non-compliance, this amendment is not necessary.
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