Today the Government announced a world-first agreement with eleven of the biggest tech companies - including Facebook, Google, Microsoft and Amazon - to tackle online fraud.
At 40% of all domestic crime, fraud is now the most common crime in the UK, with 80% of authorised payment fraud originating from social media. Whilst fraud cases have begun to drop for the first time, the Government recognises the need to go further and has committed to a world-leading Online Fraud Charter.
The Charter calls on these firms to implement measures to better protect users, including the verification of new advertisers and the swifter removal of fraudulent content, with these measures being implemented within six months.
This new agreement will also be backed by a crackdown on illegal advertisements for age restricted products and alcohol which are targeted at children.
Commenting, Alec said, "It is right that the Government is stepping up it's efforts to tackle online fraud, which has become the most common crime in the UK. An agreement on this scale between a Government and tech companies has never been seen before and will provide a key tool in the fight against fraudsters".
