Adviser trade body teams up to push for online scam rules

Meanwhile Conservative MP Ruth Edwards said there was a need for internet companies, including search engines and social media sites, to patch loopholes in their verification procedures and prevent scammers from using their platforms for illicit activity.

Stephen Timms, chair of the Work and Pensions Committee, raised concerns that the bill in its current form may not address the problem of online scams earlier this year and said he was willing to step in to force change. 

He first told FTAdviser in January he intended to table an amendment to the bill.

Meanwhile, advisers have already started writing to their MPs, asking them to urge the government to include financial harms in the bill.

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