UK Moves To Ban Financial Service Cold Calls
In a consultation paper, the UK government proposes a complete ban on cold calling for consumer financial services and goods as part of its stringent stance against fraud. As part of a larger fraud effort, the prospect of a ban was first raised in May.
The consultation paper highlights the UK’s zero-tolerance approach to fraud, highlighting the potential ban on cold calling for all consumer financial services and products, including crypto. Between August and November 2022, over half of UK landline users received suspicious calls, with 80% reporting receiving them at least monthly. The government has also been using mass texts to promote investment tools. The paper emphasizes the need for a comprehensive Fraud Strategy to combat cold calling and protect vulnerable individuals.
(With inputs from Shikha Singh)
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