Call for better regulation of online ads as scams abound
CONSUMERS have demanded more checks are made on online adverts following a surge in scams.
More than half of internet users do not trust that the adverts they see on search engines are placed there by legitimate companies, according to a report by insurer Aviva.
The warning comes amid an onslaught of fake investments adverts, scam text messages, calls from fraudsters and other attempted thefts. The report found 87pc of users wanted the Government to force social media firms and search engines to ban the promotion of scams and phoney ads.
Rob Lee, of Aviva, said: “There is a clear mistrust of financial services adverts online. However, there is no legal responsibility for technology firms to verify the legitimacy of the companies which pay them to publish adverts on their platforms.
“This potentially leaves millions of internet users exposed to unscrupulous adverts.”
Organisations including consumer group Which?, industry lobby groups UK Finance and the Personal Investment Management and Financial Advice Association, and the City of London Police, want the Government to change the law. This would force tech firms to protect people from online scams, with the threat of large fines if they fail.
There has been a rise in scams since the start of last year. Aviva’s research found 42pc of people had been targeted by a coronavirus-related scam.
Google has said that it seeks to remove fake ads. However, searching for “safe investments” using the search engine still can return risky and unregulated results.
Coronavirus lockdowns have also changed shopping habits and have hastened the shift to buying online, even among those who have previously avoided internet purchases, such as the elderly. This has meant a raft of inexperienced consumers have been let loose for criminals to prey upon.
Last year, consumers were duped into sending £479m of savings to fraudsters, who used a variety of tricks including fake websites to steal from their victims. Less than half was refunded.