UK to Ban Cold Calls Selling Crypto to Clamp Down on Fraud
- Ministers crackdown on mass texting, phone number spoofing
- 400 new jobs to tackle fraud and cyber crime under plans
This article is for subscribers only.
The UK is to set to ban cold calls that sell financial products including insurance and cryptocurrencies in an effort to crack down on fraud, which costs the country around £7 billion ($8.7 billion) a year.
Announcing its new fraud strategy, the UK pledged 400 new jobs to update its approach to intelligence-led policing. The government will work with telecoms regulator Ofcom to use new technology to undermine phone number “spoofing,” so fraudsters cannot impersonate legitimate UK phone numbers.