Aviva is calling for greater consumer protection from online financial fraud by urging government to include financial scams promoted by paid-for adverts in the scope of the Online Safety Bill. The call comes as Avivas research shows a correlation between having debt and falling victim to fraud.
The Aviva Fraud Report1 – which was published in August and investigates fraud and financial scams relating to pensions, savings, investments and insurance found one in eight people (13%) have been the victim of a financial scam which related to coronavirus. Of those, two-thirds (66%) said their total debts increased over the last year.
Almost half (46%) of all scam victims said it negatively affected their mental health, their trust in others (45%) and their confidence in the financial services system (37%).
Nearly a quarter (23%) of all those surveyed said their total amount of debt had increased over the past year, rising…