Social media & search engines face new anti-fraud duty under UK Online Safety Act

The UK Online Safety Act received Royal Assent on 26 October [2023], an event that consumer association Which? described as "a major step forward in the fight back against fraud". The new law will authorise penalties for social media companies and search engines that fail to prevent their platforms from being used for fraud - for false claims, profiles and promotions through to misleading statements and counterfeiting, whether via user-generated content or paid-for advertising. Under the law, these companies must carry out risk assessments of their platforms' possible use for fraud; act against any discovered scams (including removing harmful content); and open channels to report illegal content.

Sara Lewis

The UK Online Safety Act received Royal Assent on 26 October [2023], an event that consumer association Which? described as "a major step forward in the fight back against fraud". [1] The new law [2] will authorise penalties for social media companies and search engines that fail to prevent their platforms from being used for fraud - for false claims, profiles and promotions through to misleading statements and counterfeiting, whether via user-generated content or paid-for advertising. Under the law, these companies must carry out risk assessments of their platforms' possible use for fraud; act against any discovered scams (including removing harmful content); and open channels to report illegal content.