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HM treasury issues an open Consultation on banning cold calling for financial services and products

Link(s):Ban on cold calling for consumer financial services and products – GOV.UK (www.gov.uk)

Context

As announced in the Fraud Strategy in May 2023, the government will extend the pensions cold calling ban to cover cold calling for all consumer financial services and products. 

Key points to note

  • This consultation paper explores how best to design and implement this ban to prevent scam calls from reaching the public, while allowing legitimate and beneficial communications from businesses to continue.
  • The consultation also includes a call for evidence to collect information and data that will allow a more rigorous assessment of the impacts on businesses.
  • A specialist team which provides support to victims of fraud, known as the National Economic Crime Victim Care Unit, has also been rolled out to all 43 police forces across England and Wales since the Fraud Strategy was announced.
  • The consultation is open for responses until 9.30am on 27th September 2023

Next actions

None – for information and awareness.