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Use New UK Online Laws To Foil Scammers, Says Wealth Manager

Online Scams

Use New UK Online Laws To Foil Scammers, Says Wealth Manager

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New legislation governing firms hosting user-generated content, with a view to preventing harms, could chill free speech on the internet, critics warn. A wealth management firm, meanwhile, wants the laws – when enacted – to be used to remove scams and fraudulent advertising from such sites.


New UK legislation designed to protect users of online services –
already slammed as opening the way to censorship – must be used
to remove financial scams from websites, a wealth management firm
argues.


Yesterday, in the Queen’s Speech list of legislative proposals
being steered through Parliament, the government said it would
press ahead with the Online Safety Bill. 


According to the government’s website, “The Bill introduces new
rules for firms which host user-generated content, i.e. those
which allow users to post their own content online or interact
with each other, and for search engines, which will have tailored
duties focussed on minimising the presentation of harmful search
results to users. Those platforms which fail to protect people
will need to answer to the regulator, and could face fines of up
to ten per cent of their revenues or, in the most serious cases,
being blocked.”


Civil liberties campaigners argue that the law, while designed to
protect the public, creates the risk of censorship because the
definition of “harm” in certain cases is ambiguous.


However,…

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