Big Tech Struggling Against Online Fraud, Says Bank Boss
The Independent|April 17, 2024
The boss of one of the UK's top high-street banks has called on online giants such as Facebook to pull their weight in combatting Britain's growing fraud epidemic.
- ANDY GREGORY
Big Tech Struggling Against Online Fraud, Says Bank Boss

Robin Bulloch, the CEO of TSB, said social media companies are a growing starting point for fraud as they allow criminals free access to vast numbers of potential victims.

Bank fraud costs Britons more than £1bn a year, according to industry statistics. TSB led the charge five years ago in agreeing to compensate victims of fraud when people had lost money through no fault of their own.

“The majority of fraud starts online, specifically on social media, and it is high time that tech firms step up to protect people using their sites,” wrote Mr Bulloch in an op-ed for The

Independent, in which he pushed for tech companies to contribute to the reimbursement of people who are defrauded on their platforms.

Casting fresh light on how criminals are attempting to snare new victims, figures released by TSB show that fraud on social media platforms accounted for 61 per cent of all cases in which their customers had accidentally sent scammers money in the first three months of this year.

Four in five of these cases involved purchase fraud, where criminals falsely list discounted items for sale that never arrive once paid for, according to the bank. Notably, 71 per cent of these cases stemmed from Facebook, TSB said, warning that it was “deeply concerned by the high levels of fraud from tech companies and Meta-owned social media sites”.

In one instance, a woman was scammed out of £4,000 by someone posing as a stonemason while she was searching for a suitable headstone after the death of her son. In another, a woman transferred funds to a bank account after what she thought was an urgent request from her daughter.

この蚘事は The Independent の April 17, 2024 版に掲茉されおいたす。

7 日間の Magzter GOLD 無料トラむアルを開始しお、䜕千もの厳遞されたプレミアム ストヌリヌ、9,000 以䞊の雑誌や新聞にアクセスしおください。

この蚘事は The Independent の April 17, 2024 版に掲茉されおいたす。

7 日間の Magzter GOLD 無料トラむアルを開始しお、䜕千もの厳遞されたプレミアム ストヌリヌ、9,000 以䞊の雑誌や新聞にアクセスしおください。

THE INDEPENDENTのその他の蚘事すべお衚瀺
Hamilton is the big draw for a London spin on F1 show
The Independent

Hamilton is the big draw for a London spin on F1 show

Prior to the Drive to Survive era that triggered the sport’s unprecedented boom, one of Liberty Media’s first ventures as Formula One’s bright-eyed American owners came in the summer of 2017.

time-read
3 分  |
November 14, 2024
'In France, I lead a much easier, much simpler life'
The Independent

'In France, I lead a much easier, much simpler life'

Former Premier League star Andy Carroll speaks to Dani Gil about his topsy-turvy career, and his new start at Bordeaux

time-read
4 分  |
November 14, 2024
Breaking point: a title era is ending before our very eyes
The Independent

Breaking point: a title era is ending before our very eyes

Blame Antonio Conte, perhaps. The former Chelsea manager was not the pioneer but he was a trailblazer.

time-read
4 分  |
November 14, 2024
Withdrawals force Carsley to blood youth in Greece tie
The Independent

Withdrawals force Carsley to blood youth in Greece tie

It is an England football team, if not the England team that will take the field in Athens on Thursday night. Aaron Ramsdale, Trent Alexander-Arnold, John Stones, Harry Maguire, Luke Shaw, Declan Rice, Kobbie Mainoo, Bukayo Saka, Cole Palmer, Phil Foden and Jack Grealish is a line-up that would require a false nine.

time-read
3 分  |
November 14, 2024
Is this a megajob too much for even Musk to handle?
The Independent

Is this a megajob too much for even Musk to handle?

Just when you thought Elon Musk’s involvement in politics was over after he helped to secure the election of his new BFF, Donald Trump, it was announced that he is going to be a key figure in the running of the US for the foreseeable future.

time-read
3 分  |
November 14, 2024
Fuller's boss warns of price rises after Budget tax hike
The Independent

Fuller's boss warns of price rises after Budget tax hike

A major pub chain has joined the growing list of hospitality businesses warning of price rises due to Labour’s Budget.

time-read
1 min  |
November 14, 2024
Post Office shake-up puts 115 branches under threat
The Independent

Post Office shake-up puts 115 branches under threat

Move affecting 1,000 workers is tone deaf’ says union boss

time-read
2 分  |
November 14, 2024
High alert as Costa del Sol residents flee fresh storms
The Independent

High alert as Costa del Sol residents flee fresh storms

Fresh storms in Spain have left streets deluged and forced schools to close, two weeks after the worst floods in the country’s modern history, which killed more than 220 people and destroyed thousands of homes.

time-read
2 分  |
November 14, 2024
Senior Russian naval officer dies in Crimea car bombing
The Independent

Senior Russian naval officer dies in Crimea car bombing

A senior Russian naval officer has been killed in a car bombing in occupied Crimea the latest in a series of targeted attacks on Russian military personnel.

time-read
3 分  |
November 14, 2024
Europe faces a bigger threat level if US warms to Putin
The Independent

Europe faces a bigger threat level if US warms to Putin

According to anonymous sources quoted in The Washington Post, one of Donald Trump’s first actions on being re-elected was to call Vladimir Putin. That call was immediately denied by the Kremlin.

time-read
4 分  |
November 14, 2024