Andrew Bailey calls for a clampdown on 'downright criminal' social media scams
Summary
Bank of England governor Andrew Bailey has called on social media giants to take greater responsibility for online fraud, warning that the spread of scams and AI-generated content risks undermining trust in the financial system, City A.M. reported on Wednesday 14 October. Speaking at the International Monetary Fund's annual meetings in Bangkok, Andrew Bailey told the audience that there has been 'no real liability' for some social media firms and called for a clampdown on 'downright criminal' scams, the Evening Standard and The Independent reported.
Latest: Bank of England governor Andrew Bailey called for a clampdown on 'downright criminal' social media scams, telling an audience in Bangkok that there has been 'no real liability' for some social media firms.
Written automatically by an AI from the articles' headlines and descriptions. It can contain errors: follow the links to read the articles.
How it unfolded
Wednesday 14 October
Bank of England governor Andrew Bailey called for a clampdown on 'downright criminal' social media scams, telling an audience in Bangkok that there has been 'no real liability' for some social media firms.
- 12:22The IndependentAndrew Bailey calls for clampdown on ‘downright criminal’ social media scams
- 12:22Evening StandardAndrew Bailey calls for clampdown on ‘downright criminal’ social media scams
- 10:40City A.M.Bailey demands crackdown on ‘downright criminal’ social media fraud