Dean pushes for a fraud strategy that finally confronts big tech failures

Bobby Dean has been pressing the government to ensure that big tech companies are properly held to account for tackling online fraud.

Bobby noted that both UK Finance and the Financial Conduct Authority have found that big tech companies are failing to do enough to prevent online fraud.

However, Politico reported over the summer that the Government sent congratulatory letters to big tech CEOs praising their contribution to reducing fraud. A move that Bobby described as “a joke” adding,  “we’ve heard evidence on the Treasury Committee, especially regarding Meta, that they are not doing anywhere near enough.”

In his role as Lib Dem Shadow Leader of the House of Commons, Bobby urged ministers not to prioritise appeasing Donald Trump but instead to publish a robust fraud strategy. Bobby Dean MP said:

"Fraud destroys lives. It eradicates people’s savings, it plunges people into debt and it diminishes people’s faith in human nature. Fraud is on the rise—it is up by almost a fifth—and it makes up nearly half of all crime in the UK.

“I know that the Government are set to release a fraud strategy soon, but there are worrying reports that a key component is about to be ditched. British banks pick up the tab for fraud in this country. They are the ones who reimburse the victims, even though the vast majority of fraud these days happens on online platforms."