A report has concluded that the system supposed to protect consumers from scams is ‘fragmented and significantly underequipped’, leaving people exposed to criminal activity that could cost them billions of pounds.
The National Audit Office (NAO) says that Trading Standards departments, which are facing funding cuts, are using two incompatible databases to share information. Some departments are also reluctant to conduct investigations that go beyond their local areas, which the NAO claims leads to losses of more than £4.8bn a year for consumers.
Amyas Morse, head of the NAO, said: ‘Consumers in this country believe they are well-protected but the reality does not support this view. The system for enforcing consumer law is fragmented and significantly underequipped to tackle a whole range of serious consumer scams.’
Scams and how to protect yourself
Bogus email scams, doorstep mis-selling, rogue trading and investment scams such as boiler rooms cost consumers huge sums every year. It may be tempting to believe you’d never fall victim yourself – but criminals’ tactics are becoming increasingly sophisticated, and many people who are hurt by scams are surprised afterwards that they were taken in.
If you’re concerned about card fraud and identity fraud, you can read more about how to protect yourself in our online and guides.
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