Scams  

Govt 'delusional' over online scams, says former IFA

This sparked FTAdviser to spearhead a drive among advisers to lobby their constituency MPs along these lines, as reported in February 2021. Other organisations later followed suit.

There was a slight concession made to this effect in the Queen's Speech, although industry experts at the time claimed this was not going far enough.  

For [Richard] Smith, the recent letter shows a lack of urgency at government level. He said: "The whole situation with online scams is now at factory levels of production and little action taken."

However, Dowden's response has stated: "I would like to reassure you that my department works closely on this matter with other government departments.

"This includes the Home Office as the government department responsible for tackling fraud, as well as with industry, regulators and consumer groups.

"Through an ongoing programme of work, the government is considering additional legislative and non-legislative solutions to effectively address the harms posed by all elements of online fraud in a cohesive and robust way."

simoney.kyriakou@ft.com