(8 years, 7 months ago)
Lords Chamber
To ask Her Majesty’s Government what steps they are taking to tackle banking fraud, including internet and telephone scams.
My Lords, the Government have set up the Joint Fraud Taskforce, bringing together banks, law enforcement and government to create a strong collective response to fraud. They have also committed to spending £1.9 billion on cybersecurity over the next five years, which includes tackling cybercrime, and have published a guide for consumers on how they can protect themselves from fraud online.
My Lords, a report published by Which? yesterday showed that one in three victims of banking fraud have to wait four weeks for the banks to take action. If banks were forced to compensate customers when their security systems fail, perhaps they would take this problem a bit more seriously. Can the Minister say whether the Joint Fraud Taskforce will take this crucial principle as its guide?
I cannot say that any one principle will be taken as the guide to the work of the Joint Fraud Taskforce, which embraces a partnership between banks, law enforcement and government. What I can say is that there is a provision whereby, under regulation, if there is a fraud against someone’s credit card the banks can leave that in the hands of the consumer only where there has been gross negligence. The onus lies very much on the banks to deal with these claims and they are doing that. Indeed, the joint taskforce is taking forward further measures to ensure a reduction in fraud.
(8 years, 8 months ago)
Lords ChamberThat is not so. As has been made clear, the Government are committed to reviewing the transparency and supply chain regulations over a five-year period and have already established a two-year internal research programme to look at the effectiveness of the provisions, which will be monitored and considered. They have to be given an opportunity to work. We are in the vanguard of these developments: they were proposed in California, and we were the first country to follow suit with similar provisions, wider in their terms even than California’s. Other countries are looking with interest at the direction in which we have taken this matter.
What steps are the Government taking to eradicate modern slavery from supply chains, following the recent report by the British Medical Association which uncovered evidence of endemic abuses of labour rights in the medical gloves sector, which is within the Government’s own supply chain?
The United Kingdom Government successfully campaigned to establish the first ever UN target for ending modern slavery: sustainable development goal 8.7, which was adopted in 2015 and requires Governments to take immediate and effective measures to eradicate forced labour and end modern slavery and human trafficking. In 2015, the United Kingdom also became the third country in the world to ratify the International Labour Organization’s forced labour protocol, which commits to ending forced labour. Steps are being taken by the Home Office and other government departments to ensure the clarity of their supply chain.