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Lord Vaux of Harrowden (CB)

Speaking in the House of Lords on 11 December 2025

Debate

Social Media: Scam Adverts and Fraudulent Content

Contribution

My Lords, fraud is not falling, despite all the efforts that have been put into it so far. The National Crime Agency estimates that 67% of fraud is cyber-enabled. It says: “Social media platforms are a key facilitator of authorised push payments frauds”. Social media platforms and telecoms are the main route by which fraud comes to this country from overseas scammers, as referred to by the noble Baroness, Lady Jones. At the moment, banks pick up the full cost of reimbursing fraud victims. Banks have a key role in preventing fraud but they are not the facilitators of it. Surely the time has come to make social media platforms and telecom companies pay their share of the losses that people suffer as a result of their facilitation of fraud.

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