Tax would fund the fight against fraud
IN BRIEF:
- Tide has called on the government to introduce a tax to fund and train more police officers to tackle what it terms Britain's "fraud epidemic"
- In the UK, losses to scams hit £610 million in the first half of last year, with £250m down to Approved Authorised Payment (APP) fraud
- The levy would apply to social media and telecoms companies, where, says Tide, the majority of scams originate
What does this mean?
Oliver Prill, CEO, Tide, says: "The target to cut fraud by only 10% by the end of 2024 with another 400 police officers is nowhere near enough to combat the sheer scale of the problem and the damage done. This is why we are calling for a tax to fund action against what has become a terrible blight on the UK."
