Martin Lewis, founder of Money Saving Expert, has criticized the government’s efforts to combat online fraud, describing them as insufficient to protect victims while major technology companies continue to profit. Lewis, alongside Which? chief executive Anabel Hoult, recently addressed a letter to Labour leader Sir Keir Starmer raising concerns about the government’s current strategy for tackling online scams.

The duo highlighted that large digital platforms reportedly earn approximately £3.8 billion each year from advertisements linked to fraudulent schemes targeting users throughout Europe. Lewis specifically noted that his own name and image have been repeatedly exploited without permission to promote fake investment opportunities.

In their correspondence, Lewis and Hoult referenced recent comments by Starmer regarding the government’s position on social media company X and its AI bot Grok. Starmer had asserted that if a platform profits from harm or abuse, it forfeits the right to self-regulate. Lewis and Hoult acknowledged this stance as appropriate but emphasized that it is inconsistently applied when it comes to broader online fraud.

The letter stressed that fraud not only inflicts significant financial losses but also damages victims’ self-esteem and mental health, making it one of the most prevalent forms of online abuse. They argued that such harm warrants urgent government intervention to hold technology companies accountable for the fraudulent activity occurring on their platforms.

Statistics cited indicate that fraud accounts for 45% of all reported crimes in the United Kingdom, with the majority taking place online. The government has been approached for a response to these concerns but has yet to provide an official comment.