Social Media: Fraud
The question
To ask the Secretary of State for Science, Innovation and Technology, what steps his Department is taking to ensure social media companies (a) remove and (b) report (i) illegal counterfeit currency and (ii) fraudulent foreign exchange trading.
Answered by Feryal Clark
The illegal content duties under the Online Safety Act came into force on 17 March 2025. Social media services must now have systems and processes in place to proactively protect users from illegal fraudulent content. Ofcom’s illegal content Codes of Practice recommended that certain services at risk of fraud have dedicated reporting channels for trusted flaggers, such as the National Crime Agency, to report fraud. Providers must take the safety measures recommended in Codes or use other effective measures to protect users.
Ofcom can take enforcement action if providers do not act promptly to address the risks on their services.
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