Web giants must stop cashing in on pension scam misery, say MPs

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Inquiry hears how tech giants gain twice from internet fraud – taking ad payments from criminals and from regulators warning about them

Ministers must force tech giants such as Google, Facebook and Microsoft to stop the “immoral” practice of profiting from the £10bn of pension fraud committed by internet scammers, a committee of MPs has urged.

Fraudsters use online advertisements, mostly on Google, to trick people out of their pension funds, according to a report published by the work and pensions select committee, but regulators are “powerless” to hold the internet firms to account.

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from The Guardian https://ift.tt/3flAGD2

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