Financial Conduct Authority (FCA) chairman, Charles Randell, says legislation must be part of the approach to beating online fraud caused by advertising.
Speaking at the Cambridge International Symposium on Economic Crime today (6 September), Randell said that while a crackdown on fraudulent financial advertisements and scams from platforms is welcome, there must be a "permanent and consistent solution" to the problem. The FCA chairman likened the issues to the Greek myth of Hercules' labour to clean the Augean stables, stating "over the last 30 years the internet has filled up with a great deal of … well, let's just call it 'problematic content'." "As we live more and more of our lives online, we can't allow online business to operate...
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