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Wales Online
Wales Online
National
Lorna Hughes

Martin Lewis slams Government scam inaction after "clone firm" sends fake Money Saving Expert emails

Martin Lewis said the Government's failure to include online scams in a new bill was "completely exasperating" - after it emerged fraudsters are claiming to be from the website he founded.

The financial regulator has warned consumers to beware of fraudulent emails from scammers pretending to be MoneySavingExpert.com or Martin Lewis, after identifying a copycat firm falsely using the name.

The Financial Conduct Authority (FCA) issued an alert warning people about what it called the "clone firm".

It is understood to be sending emails offering savings accounts with high interest rates, using the emails moneysavingexpert@consultant.com; Martinlewis@publicist.com.

The addresses have no connection with the real MoneySavingExpert.com or Martin Lewis.

Sharing MSE's warning about the clone firm, Martin told followers on Twitter: "And yet the government still doesn't consider scams enough of an online harm to put in the new online harms bill. It's completely exasperating.

"Make big tech responsible for what it is paid to publish!"

The FSA said in its warning : "Almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by us. This firm is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm.

"This is what we call a 'clone firm'; and fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called. They may use the name of the genuine firm, the 'firm reference number' (FRN) we have given the authorised firm or other details."

The Government has promised that its new Online Safety Bill, due to be introduced into Parliament this year, will create the “most comprehensive online safety regime in the world”.

However, while the Bill will give Ofcom (the communications regulators) more powers to crack down on offensive social media content, the Government has explicitly ruled out giving Ofcom powers to tackle online scams and other financial harms.

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