MPs Urge New Laws For Big Tech Over £10B Pension Scams
Law360, London (March 29, 2021, 12:13 PM BST) -- Google and Facebook are lining their pockets with advertising revenue from an estimated £10 billion ($13.8 billion) pensions scam industry, a parliamentary committee has said, as it called for tech giants to be better held to account by Britain's regulators.
The Work and Pensions Committee said on Sunday that the government must broaden the scope of proposed legislation and punish so-called Big Tech companies for displaying adverts from financial con-artists and fraudsters. The committee published its report after a public inquiry into the scope of pensions fraud that began in July last year.
Stephen Timms, chairman of the committee, said rules...
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